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DoD Announces Pay and COLA Increases for 2015

The Department of Defense has announced the 2015 military pay and compensation rates for service members with most personnel receiving a 1 percent increase in basic pay. Basic pay for service members will increase one percent, except for general and flag officers who will not see an increase in 2015. Basic allowance for housing (BAH) rates for service members in 2015 will increase on average $17 per month, or half a percent. The 2015 basic allowance for subsistence rates for military members will increase by 2.9 percent over...

Help! My BAH Doesn’t Cover My Mortgage

The BAH for my grade doesn't begin to cover my mortgage payment. What can I do? Sorry, but there isn't anything you can do. BAH is based on rental data. Homeowners' monthly mortgage payments are not used in the computation because the monthly cash outlays of homeowners are not a good indicator of the economic costs of home ownership. The variables needed to compute this include such difficult-to-measure factors as the expected appreciation in the value of the residence, the amount of down payment, the opportunity costs of interest...

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