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The Quiet News from the Unemployment Compensation Extension Act of 2009

Relocating Military FamilyWith all of the hoopla surrounding the extension of the first time homebuyers tax credit as part of the "Unemployment Compensation Act of 2009" a small portion of the bill was overlooked. 

Perhaps if you don't work with military families or aren't in a community that has faced a decline in home values you might not even known that H.R. 3548  saved military families who are using the expanded Department of Defense Homeowners Assistance Program (HAP) a 25% up front tax penality when they sold their home.

For some families this has meant the difference from being able to take advantage of the benefits of the Department of Defense program or not.  A 25% upfront tax penality is not money that all military families have lying around just waiting to give to give up.  The other great news is that HAP files are processing and checks are being issued.  Two of the homes that I have under contract for Northern Virginia military families eligible for HAP are on to the final stages of processing.

The other great news is that this bill also extended the opportunity for military families who have been stationed overseas for at least 3 months in 2009 the chance to take advantage of the first time home buyers tax credit.

Thanks to Congress for understanding the need to provide a way for those who serve our country to be able to make their next PCS move a bit less financially stressful.

If you are a military family living in the Northern Virginia area and are eligible for the expanded HAP benefits give me a call at 703-346-2213.  I've been working with families in your situation this year and can help you navigate the process of understanding the Department of Defense HAP benefits and getting your home sold in our current market.

 

 

                                   Real People*Real Lives*Real Estate

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Military Relocation Professional


Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.

Integrity Real Estate Group
 
Real People*Real Life*Real Estate

Licensed in the Commonwealth of Virginia



 

 

Comment balloon 10 commentsCindy Jones • November 17 2009 10:04AM

Comments

This is great news, and you're right highly under-reported.

Posted by Kryste Adams, Bend, Oregon Real Estate (RE/MAX Key Properties - Luxury Homes, Golf Course Homes) about 9 years ago

Cindy,

Thanks for pointing that out a detail that got lost in all the hype. I'm always interested to learn what details people don't report about important issues.

Posted by Carra & Shae Riley, Helping people Transition at all ages! (Brokers Guild Cherry Creek Ltd) about 9 years ago

Kryste-maybe it is because I have been tracking this news for months that I seem to be the only one who is excited about it...besides my clients.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) about 9 years ago

Carra-a lot of the little things in big bills get passed over.  This is one of those that means a lot to thousands of military families.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) about 9 years ago

Cindy,
Great news and you are so right, not much has been written or said about this.

Posted by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc) about 9 years ago

SHHHH - it's a secret.  Or at least it sure seems like it is!  It seems some things hit the news and others just slide in without notice.

Posted by James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes, When Looking to Buy or Sell - Make the Right Move (Real Living | At Home) about 9 years ago

Thanks for pointing out the provisions that are designed to help those who are willing to make the ultimate sacrifice for us!

Posted by Dan Edwards 425-276-7008 (Keller Williams Realty - Bellevue) about 9 years ago

Cynthia-you know me if it is news about the military and something that benefits them in regards to homeownership I'm going to be all over it.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) about 9 years ago

James-this is a big one for 5 families I currently have under contract using HAP benefits.  25% is a hefty up front fee to pay if you have PCS orders in hand.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) about 9 years ago

Dan-your welcome.  When you live in a military rich area such as Northern Virginia keeping up with positive news is important.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) about 9 years ago

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