Home Owners Assistance Program - Help for Our Military Members
Homeowners Assistance Program (HAP) is program that was enacted in 1966 to provide assistance to eligible federal personnel, who were stationed at or near a base which was scheduled for closure or realignment. Through no fault of their own they were not able to sell their homes under normal conditions.
This program has been expanded in a provision of the recent stimulus plan to apply to active servicemen and women who have been transferred and cannot sell their homes under normal conditions. HAP is a DOD program and the guidelines of the policy are established by DOD.
Who is eligible?
Applicants must be a military member, including Coast Guard, or federal civilian or Non-Appropriated Fund employee assigned at or near a base announced for realignment or closure. They must have relocated beyond commuting distance.
How does the program work?
The program provides assistance in three ways:
1. The Government may purchase the home by paying off the balance of any mortgage existing at the time, or for 75% of the fair market value prior to time, whichever is higher. If the amount a homeowner owes on the mortgage is less than 75% of the fair market value, the homeowner may be paid the difference.
2. Homeowners who are able to sell their homes may be reimbursed for part of their losses or paid at the time of closing in some cases.
3. Homeowners who defaulted on their mortgage through foreclosure may receive assistance. Homeowners are liable for taxes on any benefits received through HAP.
For more information: U.S. Army Engineer District, Savannah
Homeowners Assistance Program
Attn: RE-AH
P.O. Box 889
Savannah, GA 31402-0889
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119