Soldiers take financial beating as Defence, Treasury Board argue over policy
OTTAWA - At least 146 military families have been driven to the brink of financial ruin because National Defence and the federal Treasury Board differ in their interpretation of an assistance program.
The disagreement involves a home equity assistance program available to members of the military who move frequently and run the risk of taking a bath on their properties.
Compensation is supposed to be available when a member is required to transfer and sells a home in a depressed housing market, but the two departments are odds over the definition of market.
Internal records show that between 2007 and 2010, 146 applications involving tens of thousands of dollars each were rejected by the Treasury Board, despite having the support of National Defence.
The Defence Department was asked two weeks ago for comment, but has not responded.
One family in Halifax says they are on the verge of going under after losing more than $70,000 on their last move.
