I just attend a Lunch & Learn at our local Realtor Association where the topic was about the military HAP (Homeowner's Assistance Program). I first heard about this topic on a listing I was showing to a buyer (we are closing this upcoming Tuesday on a property that was better suited for her) and the listing agent was kind enough to tell me a little about it.
Basically it is similar to a short sale, although the bank is not involved. If a military service member was given PCS orders prior to September 30, 2010 and they purchased their home in 2006, they may be eligible for the military HAP. In the current economy where many people decided to rent their home vs. rent or maybe are just paying to the mortgage on a vacant property, this may be a valuable asset.
It may not fit every scenario, but I know I will be sharing this great information with my database - someone may be able to benefit for this assistance and get their home SOLD!
I specialize in assisting sellers and buyers with their real estate needs in Virginia Peninsula Virginia, including Hampton, Newport News, York County and surrounding areas.(757) 739-2003