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Inspector General's Report on the DoD Homeowners Assistance Program

Pentagon in Arlington VirginiaAs 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

                                   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 6 commentsCindy Jones • January 08 2012 06:38PM

Comments

Hi Cindy, I haven't had the opportunity to help any military families use the HAP program yet, but I appreciate all the information you have shared here for those of us, who may need to know this information. Sooner or later, I know a military member in my area may need this assistance.

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) almost 7 years ago

Cindy

Thanks for sharing the information on the DOD Homeowners Assistance Program.

Good luck and success.

Lou Ludwig

 

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 7 years ago

Jerry-the problem will likely be that anyone who applies for the program this spring will find there are no funds to help them close.  I'm predicting more short sales coming up for military families.  I've written two posts recently on updates to VA Compromise Sales benefits and PSC orders hardship approval by lenders.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 7 years ago

Thanks for stopping by Lou and continuing to give us great advice on your blog.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 7 years ago

Cindy, you certainly are the go-to expert on these topics. It makes me look smart to my clients when I can refer to a program or article you've written about.  Thank you! 

By the way, I included the links in this post in an email I just sent about this to about 100 of my past, current and potential military clients.

Posted by Margaret Woda, Maryland Real Estate & Military Relocation (Long & Foster Real Estate, Inc.) almost 7 years ago

Margaret-Always glad to be send out any information I find on military programs.  I know your clients benefit from your knowledge of the area.

Posted by Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News (Integrity Real Estate Group) almost 7 years ago

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