The Homeowners Assistance Program (HAP) has been very beneifical to Military families stationed at Ft Benning, Georgia. It has also helped decrease foreclosures in the Columbus, Georgia Real Estate market.
This wonderful program was passed by the United States Congress in 2009 as part of The American Recovery and Reinvestment Act of 2009 (ARRA). HAP offers finanical compensation to qualified military families being forced to sell their homes in a distressed real estate market.
HAP will Reimburse: 95% of Purchase Price - Sale Price + Closing Cost
WHO QUALIFIES FOR HAP?
- Service member homeowners with Permanent Change of Station (PCS)
PCS orders must be dated between February 2006 and September 30, 2010
Property must be Primary Residence on date of PCS orders
Property must have been purchased prior to July 1, 2006
Member must move at least 50 miles from Duty station & Home
Only mandatory retirements are eligible
Sell home after 1 July 2006
The individual home value and the Area home values must have declined at least 10%
- Wounded or injured members of the Armed Forces with at least 30% disability
Suffer wound, injury or illness on or after September 11, 2001 during a forward deployment
Must be reassigned for medical treatment, rehabiltation or medical retirement.
Show a connection between the need to relocate the primary residence and the medical condition
- Military & Civilian Employees Homeowners impacted by Base Realignment & Closure (BRAC) 2005
Must be assigned to impacted installation or organization
Job must be eliminated or relocated
Must have purchased the home prior to May 13, 2005
The individual home value and the Area home values must have declined at least 10%
- Surviving Spouses of the Fallen
Member died as a result of an wound, injury or illness while deployed after September 11, 2001
Spouse must relocate the primary residence within 2 years of the death of Service Member
WHERE DO YOU APPLY FOR HAP APPROVAL?
The Service Member and Realtor should submit the HAP package to the HAP Field Office where the Property is Located.
If you would like to find out if you qualify for this program send me a quick email.
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