The financial strain affecting so many military families required to move in a bad housing market may soon be alleviated in the newly passed $787 billion stimulus package.
The stimulus - signed into law by President Obama on Feb. 17 - features a provision titled the Military Homeowners Assistance Program (HAP). HAP benefits (normally payable only at BRAC locations) will be extended to certain military homeowners who bought homes before July 1, 2006 and who sell the homes before Sept. 30, 2012, according to MOAA.com.
HAP was originally written in response to rising foreclosures and the credit crisis, and seeks to add more than $400 million to help military homeowners who are in the middle of foreclosure, or unable to sell their homes in the event of a permanent change of station order.
What's more, HAP will not only provide help to military homeowners who receive PCS orders and are unable to sell their homes, but will also assist wounded warriors who must relocate due to medical reasons, and surviving spouses of fallen servicemembers who are also forced to move.
to learn more visit www.recovery.org
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