Is the Homeowner Assistance Program (HAP) Too Good To be True?

Real Estate Agent with HomeSmart Realty West Cal BRE#01427412

Is the Homeowner Assistance Program (HAP) too good to be true? I got asked this question right after meeting with a couple who could no longer afford their dream home and withstand the long daily commute of more than 50 miles to and from work. The husband had served his country for 11 long years, his wife was now pregnant with their first baby and he had just reported to his new duty station a few months ago. The Homeowner Assistance Program seemed too good to be true because it offered the active duty member and his family a chance to relieve a financial burden and start a new.


Here was a family like most Americans who thought they had brought their dream house in 2005. Both their home and investment was now only worth half of what they ship, blue sky, trees, water, buildings, To see the value reach anything near the purchase price would probably take at least 5-10 years according to experts. So, they felt stuck with the property and struggled with the commute when the husband got new orders more than 50 miles away. Everyday, the husband would get up and complain about the commute and the time not spent with his family.


Then, the service member heard about the Homeowner Assistance Program and it seemed too good to be true. Still, he felt too proud and didn't want to seem like a failure, so he didn't apply for it. He said, "Ma'am.. for years I've worked hard and paid for everything I own. I believe in paying my debt. I don't want to seem like a failure."  However, this proud military man needed help and the HAP, though, it seemed too good to be true was going to be his life line. He agreed to list his home and get the sale approved through the Homeowner Assistance Program.


Girl on the floor, bags, wooden floor, blue closed door,boxes, shoes, clothes biege walls




Unlike many Americans who are upside down on their homes, the HAP allows the qualified military member the opportunity to sell their home like a traditional sale instead of a short sale. The program provides monetary help for military family members and federal civilian workers who suffer a financial loss on their home due to base realignment and PCS moves. The Homeowner Assistance program is designed to help our service members focus on doing their job and and not have to worry about the financial stress due to their work.  However, the Homeowner Assistance Program which seems too good to be true, has been cut short by two years due to the possibility of a lack of funds.

Lorraine Santirosa works with military families who need to buy or sell their homes as they relocate to and from the San Diego area.



Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Don Spera 05/20/2010 07:26 PM
Home Selling
California San Diego County
Military Relocations
Keller Williams Active Rain Bloggers
US Coast Guard and Real Estate
short sale specialists
Short Sale Support Group
military homeowners and government help
financial help for military homeowners

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Jeffrey Smith
Author of 'Realtors Guide To Short Sale Success - Eustis, FL
Short Sale Education

So what can we do? Get the government to quit wasting so much of our money studying stupid stuff like how insects mate and put it toward people in need? Yes we can! get government to stop wasting money on stupid stuff. 

May 04, 2010 01:31 AM #1
Ed Macias
Real Estate Teammates - Miami, FL
Miami FL-REO Property Management Multifamily

Government is delaying the market from fixing itself with all these programs.

May 10, 2010 03:38 PM #2
Lorraine Santirosa
HomeSmart Realty West - San Diego, CA
#1 San Diego Military Relocation Expert!

A portion of HAP was created to offset the financial burden inflicted on military families that have to move due to orders.

May 10, 2010 05:18 PM #3
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

I recently had a seller that was able to utilize this program, it was a wonderful option for them vs. selling their house as a short sale.

May 11, 2010 12:21 AM #4
Lorraine Santirosa
HomeSmart Realty West - San Diego, CA
#1 San Diego Military Relocation Expert!

I agree with you Kathy and I hope the program can be extended for an additional 6 months.

May 11, 2010 03:39 PM #5
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Lorraine Santirosa

#1 San Diego Military Relocation Expert!
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