Attn: Military Personnel- Help For Homeowners Program
July 29, 2010 by Jon Tipton · Leave a Comment
Members of the military and federal employees may be eligible for help from the Homeowners Assistance Program (HAP). HAP was set in place to help eligible service members and federal employees who have lost money on the sale of their primary home due to the closure of a base or the decline in the market due to a realignment. If your are a service member or federal employee weren’t able to sell their home under what would normally be considered “reasonable” terms or conditions, you may be eligible for the HAP.
In addition to the above conditions, HAP has been expanded by the American Recovery and Reinvestment Act of 2009 (ARRA) to include service members and Department of Defense employees who:1. Were wounded, injured or sick.
2. Died as a result of any wounds, injuries or sickness in the line of duty, then the surviving spouse is eligible for help under the HAP program.
3. Were affected by a base closure or realignment.
4. Were assigned a Permanent Change of Station (PCS).
Some HAP applicants may be eligible to receive reimbursement for part of the financial loss from selling your home, assistance to pay off your mortgage, pay off the mortgage entirely through a government purchase or assistance if you default on your home mortgage.
The Army Corps of Engineers (USACE) is in charge of the Homeowners Assistance Program. To see if you are eligible, you may want to visit the USACE’s website at http://hap.usace.army.mil/. Please contact us if you considering putting your home on the market as a short sale.
In your corner,
Jon Tipton, Realtor/Certified Appraiser
