Steve Angeles, ABS CBN North America Bureau

Aug. 24, 2010

San Diego, CA – U.S. Navy Command Master Chief Ray Tiong returned from battle earlier this month. After fighting a war in Iraq, he’s now fighting to save his home from foreclosure. His mother lives in that home, and she is having trouble making his payments.  Tiong said he applied for a loan modification about a year ago, and the bank hasn’t done anything.

“Getting back with the family and everyday family life, and also of course that goes with the financial stuff that you left behind and now you’re back with it trying to catch up, but the bad thing is catching up with the financial, knowing you’re disapproved, “ said the 28- year- old Navy veteran.

San Diego Democratic Congressman Bob Filner will propose a bill after Labor day that will give military personnel a chance to save their homes. Under the proposal, banks cannot foreclose on returning veterans for at least one year after they return from duty. Lenders must offer returning veterans the best loan modifications available. Disabled veterans cannot be foreclosed for as long as they pay 25 percent of their income.

“There’s a lot of homeowners being foreclosed because their husband and wives are serving the country and they’re losing their jobs, said  Mabuhay Alliance CEO Faith Bautista, who’s non profit housing group, is working with Filner on the legislation.

The unemployment moratorium will give military men and women time to get their income back and hope that some of the principal amount of their loan is forgiven.

Tiong said soldiers missing house payments, is a common problem among returning soldiers. Many times, they have trouble finding jobs.

The active sailor said, “The soldiers are trained if you have a responsibility to pay your mortgage you have to take care of it.”

Tiong said when they’re fighting a war, fears about losing their homes add to their already stressful situation.