Home Equity Assistance

100% Home Equity Assistance in CFIRP

CFIRP Decision 2012-064

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2012-064

the Board pointed out that the relevant part of the CF IRP policy does not require that the TBS “designate” a depressed market; what the policy says is that a depressed market is defined as a community where the market has dropped more than 20 percent. The policy then stipulates that a member must build a case for depressed market status and that the submission is to be forwarded by the DCBA to the TBS for consideration. In the Board’s opinion, whether or not the claim will be granted is not for the DCBA to determine.

Based on the evidence presented, the Board was satisfied that the market analysis prepared by the grievor demonstrated precisely the type of depressed situation contemplated in the home equity assistance (HEA) policy and, in the Board’s view, the DCBA was required to forward the file to the TBS for review.

The Board indicated that it previously made a systemic recommendation regarding the need to have the HEA program reviewed; the Board added that, in a recent decision, the Chief of the Defence Staff (CDS) agreed and directed the Director General Compensation and Benefits (DGCB) to review the HEA provisions with the TBS with a view to reducing the impact of losses on sale of a residence to a resaonable and minimally detrimental level. The Board expressed the hope that this matter will be treated as a priority by both the CDS and the DGCB, given the prospect of further similar grievances due to the current trends in the real estate market.

CDS:” As recommended by the Board in several HEA cases, and given the detrimental effect on CF members, the CDS directed DGCB to review the adequacy of the CF IRP HEA provisions with TB to minimize any negative impact to CF members brought on by the exigencies of military service.”

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Written by Major Marcus Brauer

February 22, 2015 at 15:09

Posted in Uncategorized

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