HAP. Homeowners Assistance Program.
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Military Homeowners Sellers Assistance Program.
Relocating can be a significant part of being in the military.
With new orders and a potential relocation every 18 months or so, buying and selling a home becomes especially challenging. During the height of the housing boom, selling a home could be done in a few days to a few weeks and for top dollar.
Today, homes are selling but buyers are more cautious leading to much longer average days on the market.
This plus a drop in home prices, makes it especially troubling for someone who was relocated to the area in the past few years.
Recognizing this, the Federal government expanded the Homeowners Assistance Program (HAP) on 1 March 2009. The HAP provides reimbursement for part of a loss from selling your home, assistance if you don’t receive enough to pay off your mortgage when selling your home, potentially buying your home by paying off the mortgage or help if the applicant is in default on their mortgage.
As with any program, there are eligibility requirements for sellers to qualify. For additional, information contact any of us!
Written by Ana Maria Goodemote, buyers agent with Team Toner
» Posted by Peter
