HAP Military Housing Assistance Program Expands
April 21, 2009 by Admin · Leave a Comment
Several years ago the Department of Defense rolled out the Housing Assistance Program (HAP) for service personnel the were relocated due to Base Realignment and Closures (BRAC). Due to the overwhelming mortgage crisis, that program is being expanded, and you may be eligible to receive financial relief if you’re moving due to permanent reassignment!
The guidelines for HAP have been revised to also include:
- Military personnel with PCS orders who are unable to sell their homes
- Wounded warriors required to relocate for medical reasons, and
- Surviving spouses of fallen service members
Who Is Now Eligible?
Eligibility requirements for the expanded HAP program are:
- Permanent reassignment requires move of more than 50 miles.
- Reassignment ordered between 1 February 2006 and 30 September 2012 (or earlier date designated by Secretary of Defense).
- Property purchased (or contract to purchase signed) before 1 July 2006.
- Property sold by owner between 1 July 2006 and 30 September 2012, or earlier date designated by Sec. Def.
- Property was the primary residence of the owner
- Owner has not previously received these benefit payments.
What Does This Mean?
Essentially the DoD will reimburse up to 95% of any loss on the sale of your home, provided the home was originally purchased before July 1, 2006. The DoD MAY also elect to purchase your home from you for up to 90% of it’s current value.
Unfortunately to DoD has not yet released the detailed compensation guidelines, so they will not be approving any applications just yet. They are, however, recommending that any Military Personnel who may be eligible should submit their applications ASAP. Applications received now will be held until guidelines are released.
How do I apply?
In order to apply for the HAP program,all you have to do is go to the Hap Website and download the application form. They have complete instructions there and will be notifying applicants once the guidelines are released.
~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
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