As an agent who has had the privilege of successfully completing 35 Northern Virginia Department of Defense HAP sales, keeping up with all of the latest information is a daily challenge. Talking with other agents across the country who also have been working with the HAP program we shared our concerns about the program and some of the inconsistencies we've experienced between each of the offices processing DoD HAP files. Files for our area are processed by the United States Army Corps of Engineers (USACE) in Savannah GA.
In case you were wondering how the HAP program originally got funding here is the history: The American Recovery and Reinvestment Act of 2009 allocated $555 million and the National Defense Authorization Act of 2010 authorized an additional $300 million for the Expanded Homeowners Assistance Program (HAP).
The IG report on DoD HAP provides details on the issues that were found with the program and is open for comments until January 23, 2012. If you are military service member eligible for DoD HAP benefits or has been denied benefits you should read the report and make comments on your experience with the program.
Per the report released by the IG office, as of February 23, 2011 the program had paid 4,825 applicants a total of $725.5 million, but had a backlog of 4,897 eligible applicants.It doesn't take much to do the math and see that the program will run out of money before all eligible service members will be able to settle on their homes unless additional funding is provided. In fact in the last few months it appears that processing of files has slowed as "recovered funds" are required in order to settle on sales.
This week Holly Petraeus, head of the Office of Servicemember Affairs in the new Consumer Financial Protection Bureau (CFPB), suggested in an article in the Stars and Stripes that "the extra $550 million Congress appropriated to expand HAP has been used and no more military families are getting that special help."
If you are eligible for DoD HAP benefits and own a home in the Northern Virginia you should contact the Savannah Regional Office of HAP to discuss your specific situation. If you own a home in the Northern Virginia area and are looking for a Realtor® who is familar with the HAP program give Cindy Jones and CJ Realty Group a call at 703-346-2213.
Originally posted on www.varealestatetalk.com
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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 the Commonwealth of Virginia