Wells Fargo partners with Operation Homefront to donate homes to military families
Thursday, September 06, 2012, 4:52:41 PM
Between frequent deployments, moves and cuts across the military, financial strain is familiar to many servicemembers. That is why Operation Homefront, a non-profit organization, works to provide financial assistance and homes to military families. The organization recently announced it was partnering with Wells Fargo bank to donate as much as $500,000 in bank-owned properties to the military families.
The partnership is part of Operation Homefront's Homes on the Homefront program, which was designed to provide mortgage-free homes to members of the military so they and their families could live this integral part of the American dream, according to the organization's website. AOL Real Estate reports homes can be a particularly tricky investment for military families, since they frequently receive change of station orders and have to move before they can sell their homes in what is still a difficult housing market. As a result, many servicemembers and veterans have poor credit ratings from trying to solve this issue.
Originally partnering with Chase bank, the partnership with Wells Fargo will allow Operation Homefront to provide even more homes to veterans.
"We hope more companies and individuals will get involved with supporting Operation Homefront's mission that brings resources to veterans seeking ways to overcome homelessness and to address economic challenges including with the housing market," Tyler Smith, a vice president with Wells Fargo Home Mortgage's Premiere Asset Services, told the news outlet.
Since its inception in 2002, Operation Homefront has brought more than $128 million to programs to support military families, serving more than 4,200 wounded warriors, servicemembers and their families. In 2011 alone, the organization met the financial needs for 155,984 military families with members in all branches of service.
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