After a long wait the checks are beginning to roll out for military families who qualify for assistance from the Department of Defense Homeowners Assistance Program (HAP).
Three weeks after the funds were made available the surviving spouse of a Fallen Warrior received her check. Then a check went out to an Air Force Major in Colorado and since then the checks have been rolling out on a regular basis. Each check issued means one of the thousands of military families impacted by the declining market value of their home comes one step closer to financial relief.
The expanded program has had a few holdups. First the funds part of the American Recovery and Reinvestment Act of 2009 needed to be made available, then the program rules needed to be reviewed by the Office of the Secretary of Defense and finally Congress need to pass HR 3548 to remove the 25% tax penality that was attached to the original rules.
Fortunately for those who have waited processing seems to be moving fairly quickly. Two of the Northern Virginia military families I am working with have received their benefits letters and we are finalizing the updates required by the HAP counselors.
For more information on the qualifications for the program you can review the eligibility requirements at the US Army Corps of Engineer website. If you are a military family in the Northern Virginia area who qualifies for the Department of Defense Homeowners Assistance Program (HAP) then give me a call at 703-346-2213. As an agent experienced with the HAP program guidelines and processes I can help you navigate the requirements and get your home SOLD before your next PCS move.
No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market
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.
Licensed in Virginia
I am glad they are helping our military members. Many times their pay is not on par on with civilian pay
Cindy
It's a great program that will help a large number of our military to achieve the American dream of home ownership.
Good luck and success.
Lou Ludwig
Russ-and this program keeps military families who qualify from having to ruin their credit with a short sale or foreclosure.
Lou-this program is to assist military families who are upside down on their homes during the sales process. The VA loan program for buying is the best deal for military families and veteran's who want to buy a new home.
Cindy,
This sounds like a wonderful program. I sure hope it works well and helps a lot of families. Thanks for all the info.
Carra-I have 5 military families under contract who are eligible for the program. Looks like I should have at least two of them settled by the end of this year (finally) and the rest early next year. If anyone deserves a break from the downturn in the market it is a military family.
Hello Cindy,
Sounds like a great program for military families! Thank you for sharing the information! I appreciate it! Have a great weekend!
Rita