HAP Program for Military home owners who have to sell
Im a few days behind in my reading of the local newspaper so this is old news Im sure. Military homeowners who must sell their home at a loss can get some help from the government. The DOD has about 555 Million for the HAP program. Families could get up to 90% ot there loss reimbursed to them when they must sell to do orders relocation them out of the area. Another option is for the DOD to buy the home for 75% of the origianal purchase price. Basic Guidelines to meet are .
1. Must have bought your home prior to July 2006
2. You must sell yor home prior to December 31
3. Submitt an application by March 31, 2010 for assistance
I currently have 2 service member;s homes listed that would qualify for the program. Im sure there are other bits and pieces of the program to read about. I think the biggest question is the service member still has to be able to cover the loss then be reimbursed. Lucky for me one of my sellers has about 10k they would have to bring to the table at closing based on the average price in the area they are trying to sell.
If you want more information see http://hap.usace.army.mil/
I think this is a wonderful option for our service members