Many military members are not aware of the Homeowners Assistance Program
(HAP) that went into effect when the Stimulus package was signed last month.
Most of the info on the "Homeowner's Assistance Program" is found on their
website (http://hap.usace.army.mil).
- Current provisions from HAP:
*Reimburse the applicant for part of your loss from selling the
home.
*Assist the applicant if you don't receive enough proceeds from the
sale of the home to pay off the mortgage
*Buy the applicant's home by paying off the mortgage (not available
for overseas applicants).
*Help the applicant if the mortgage is in default.
- Individuals eligible for HAP now that the Economic Stimulus Package is
signed:
*Wounded warriors with at least a 30% disability rating relocating
for medical treatment or medical retirement
*Uniformed Service Members under PCS orders to a duty station
outside a 50-mile radius of their current station. The primary residence
must have been purchased before July 1, 2006 and sold between July 1, 2006
and Sep. 30, 2012.
*Uniformed Service Members, & Federal Civilians including NAF
(nonappropriated
funds) employees who are affected by BRAC (Base Realignment & Closure),
without tying the decline in home values to BRAC.
*The Spouse of a member of the Armed Forces or a civilian employee
of the Department of Defense or the United States Coast Guard if - the
member or employee was killed in the line of duty or in the performance of
his or her duties during a deployment on or after September 11, 2001, in
support of the Armed Forces or died from a wound, injury, or illness
incurred in the line of duty during such a deployment.
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