Bill's Real Estate Blog - News to Use!

If you are a homeowner and a member of the Armed Forces being transferred to a new assignment, a new program to assist you with the sale of your home may be of value to you.  The Department of Defense is currently offering the Homeowners Assistance Program (HAP) to military service members and federal civilian employees.  This program helps eligible homeowners facing financial loss when selling their residence in areas where property values have declined due to base closure or realignment.  It has been expanded to also help members and employees wounded, injured or becoming ill when deployed; surviving spouses of those killed or died of wounds when deployed; and those required to permanently relocate during the home mortgage crisis.

The following criteria must be met for eligibility:

• The homeowner must have owned the home since before July 1, 2006.
• The homeowner must be getting transferred at least 50 miles away.
• The homeowner must be experiencing at least a 10% home value loss.
• The maximum loan limit on this program is $417,000.

For further details regarding this program, as well as the application, visit online http://hap.usace.army.mil.  Our area is represented by the Fort Worth District Field Office (877-886-1112).

If you believe you may be eligible for this program, or would like assistance selling your home and navigating the process, please call me.  I would be happy to help.