Military Home Selling Program

DEPARTMENT OF DEFENSE SELLING PROGRAM  

Homeowners Assistance Program (HAP)

The main purpose of the HAP is to assist eligible service members who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement. The HAP Program also has provisions for Permanent Change of Stations (PCS) with the following:

• Permanent reassignment to new duty station more than 50 miles of previous base
• Reassignment ordered between 1 February 2006 and 30 September 2010.
• Property purchased (or contract to purchase signed) before 1 July 2006.
• Minimum decline of 10% home value loss from the date of purchase to date of sale.
• Property was the primary residence of the owner
• Owner has not previously received these benefit payments

Pretty much, if you get orders to relocate 50 miles away or more and are forced to sell your home, the federal government will help you with the following:

1. Reimburse you for part of your loss from selling your home
2. Assist you, if you don’t have funds from the sale of your home to pay-off your mortgage
3. Purchase your home by paying off the mortgage
4. Help, if you default on your mortgage

Please consult your trusted legal counsel to get better details than this brief overview.