The Quiet News from the Unemployment Compensation Extension Act of 2009

By
Real Estate Agent with Integrity Real Estate Group

Relocating Military FamilyWith all of the hoopla surrounding the extension of the first time homebuyers tax credit as part of the "Unemployment Compensation Act of 2009" a small portion of the bill was overlooked. 

Perhaps if you don't work with military families or aren't in a community that has faced a decline in home values you might not even known that H.R. 3548  saved military families who are using the expanded Department of Defense Homeowners Assistance Program (HAP) a 25% up front tax penality when they sold their home.

For some families this has meant the difference from being able to take advantage of the benefits of the Department of Defense program or not.  A 25% upfront tax penality is not money that all military families have lying around just waiting to give to give up.  The other great news is that HAP files are processing and checks are being issued.  Two of the homes that I have under contract for Northern Virginia military families eligible for HAP are on to the final stages of processing.

The other great news is that this bill also extended the opportunity for military families who have been stationed overseas for at least 3 months in 2009 the chance to take advantage of the first time home buyers tax credit.

Thanks to Congress for understanding the need to provide a way for those who serve our country to be able to make their next PCS move a bit less financially stressful.

If you are a military family living in the Northern Virginia area and are eligible for the expanded HAP benefits give me a call at 703-346-2213.  I've been working with families in your situation this year and can help you navigate the process of understanding the Department of Defense HAP benefits and getting your home sold in our current market.

 

 

Posted by

                                   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



 

 

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Virginia
Groups:
Military Relocations
RE/MAX Active Rain Bloggers
Market Updates
Dedicated Bloggers
Cosmic Cow Pie...The Rome Way
Tags:
military relocation
department of defense
fort belvoir relocation
hap

Spam prevention
Show All Comments
Rainer
123,673
Kryste Adams
RE/MAX Key Properties - Luxury Homes, Golf Course Homes - Bend, OR
Bend, Oregon Real Estate

This is great news, and you're right highly under-reported.

Nov 17, 2009 02:14 AM #1
Rainmaker
319,654
Carra & Shae Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Cindy,

Thanks for pointing that out a detail that got lost in all the hype. I'm always interested to learn what details people don't report about important issues.

Nov 17, 2009 04:24 AM #2
Ambassador
1,892,368
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Kryste-maybe it is because I have been tracking this news for months that I seem to be the only one who is excited about it...besides my clients.

Nov 17, 2009 05:49 AM #3
Ambassador
1,892,368
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Carra-a lot of the little things in big bills get passed over.  This is one of those that means a lot to thousands of military families.

Nov 17, 2009 05:50 AM #4
Rainer
304,164
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Cindy,
Great news and you are so right, not much has been written or said about this.

Nov 17, 2009 10:11 AM #5
Rainmaker
316,151
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
Real Living | At Home - Washington, DC
When Looking to Buy or Sell - Make the Right Move

SHHHH - it's a secret.  Or at least it sure seems like it is!  It seems some things hit the news and others just slide in without notice.

Nov 17, 2009 01:36 PM #6
Rainmaker
260,141
Dan Edwards 425-276-7008
Keller Williams Realty - Bellevue - Bellevue, WA

Thanks for pointing out the provisions that are designed to help those who are willing to make the ultimate sacrifice for us!

Nov 17, 2009 02:55 PM #7
Ambassador
1,892,368
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Cynthia-you know me if it is news about the military and something that benefits them in regards to homeownership I'm going to be all over it.

Nov 21, 2009 07:39 AM #8
Ambassador
1,892,368
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

James-this is a big one for 5 families I currently have under contract using HAP benefits.  25% is a hefty up front fee to pay if you have PCS orders in hand.

Nov 21, 2009 07:40 AM #9
Ambassador
1,892,368
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Dan-your welcome.  When you live in a military rich area such as Northern Virginia keeping up with positive news is important.

Nov 21, 2009 07:41 AM #10
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
1,892,368

Cindy Jones

Pentagon, Fort Belvoir & Quantico Real Estate News
Have A Northern Virginia Real Estate Question?
*
*
*
*
Spam prevention

Additional Information