As many of you know the DOD (Department of Defense) has been looking for a solution for all of the Military folks who have received orders to move, and are now upside down on their homes. Being upside down on your home is an issue for any homeowner when their job decides to leave the area. This gives the average homeowner two main choices to avoid foreclosure.......rent out the house, or short sale the property. This presents a HUGE issue for military families.
Why you ask? When you short sale a home it does effect your credit. Now it effects everyone different but if you've already got so-so credit a short sale could put you into a credit status of distress. This can change security clearance for military personel. BIG PROBLEM when you are required to have certain security clearance to perform your tasks.
Luckily the DOD has been making revisions to its already in place HAP(Homeowners Assistance Program) program. The HAP system was previously only in place for when a base shut down. However, with the decline in the housing market, it has become very difficult for military personel to sell their homes.
The HAP program provides three main ways to help homeowners who can not sell for what their home is worth and have been PCS'ed.
Vist out website to learn more information about the program, look at FAQ's and download Applications.
We have already started helping several homeowners in the Orange Park/NAS area work with this program and we would be happy to set up a consult with you to go through any questions.
Liz Landry - 904-803-2459
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This is great information and very timely for many military familes receiving moving orders.