If you are an Eglin Air Force Base, Hurlburt Field or Whiting Field airman, have PCS orders and need to sell your home, you may have heard of HAP. HAP is the Department of Defense’s Homeowner Assistance Program. The program was expanded to help PCSing service members sell their properties, when “upside down” in mortgage value. For example, you owe $250,000 on your mortgage, but your Navarre Florida home is only worth $150,000. If you qualify, HAP may pay your entire shortfall at closing when you find a buyer. This is a wonderful program that can help you avoid foreclosure, short sale or VA Compromise Sale on your Navarre, Crestview, Niceville or Destin Florida area home.
Here is an overview of HAP Steps and Mortgage Qualifications:
1. Your current mortgage balance must be 90% of your Prior Fair Market Value (PFMV). PFMV is your original purchase price plus any capital improvements you can substantiate.
10. The final signed copy of the replacement contract will be sent out to you, the buyer, Realtors, and title agent. Your HAP closing documents will be express mailed to you. You will have to sign, date and get your documents notarized as required. If there are any outstanding monetary amounts due from you, such as mortgage interest, or loan not covered by HAP, you will need to include a certified check with your closing package.
11. Congratulations – your Crestview, Navarre, Niceville or Destin home is sold and your mortgage is paid off!
If you are an Eglin or Hurlburt airman, and need to take advantage of HAP, apply soon. Funding is limited. Contact Wendy Rulnick for a HAP program overview and move “on”!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: email@example.com
Wendy is a short sale, HAP, VA Compromise and real estate specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.