To amend the Homeowners Assistance Program of the Department of Defense to give the Secretary of Defense flexibility regarding setting the commencement date for homeowner assistance for members of the Armed Forces permanently reassigned during the mortgage crisis.

Amends the Demonstration Cities and Metropolitan Development Act of 1966 to expand access to Department of Defense (DOD) homeowners assistance for qualified members of the Armed Forces permanently reassigned during a designated mortgage crisis to allow the Secretary of Defense greater flexibility regarding the dates of the availability of such assistance.

Directs the Secretary, in exercising such authority, to consult with the Secretaries of Housing and Urban Development (HUD) and the Treasury regarding the condition of housing markets in the area of a base or installation.