Monday, April 13, 2009

Military Homeowners Assistance Program (HAP)

Are you a member of the United States military? Did you purchase your home before July 1, 2006? Do you need to relocate due to a permanent change of station order (PCS of more than 50 miles), health, etc? Upside down in the value of your home? Need to sell?

Good news - there is a provision in the stimulus package signed by President Obama in February that provides additional funding for a program that may help you. The Military Homeowners Assistance Program (HAP) is designed to assist you if you are in the military and must sell your home...the government may purchase your home, or reimburse you for part of your loss.

Questions about this program? There is a Homeowners Assistance Program Field Office right here in Sacramento!

HAP Field Office, Sacramento
U.S. Army Engineer District, Sacramento
1325 J Street Sacramento, CA


Anonymous said...

Is the HAP going to be taxable income? If so, what is the purpose? I am a little confused on the "stimulus" portion, I dont see paying $30K stimulating my life. Short Sell seems the better option.

Anonymous said...

HAP income is not taxable. I don't understand the $30K comment but if you were paying $30K in taxes that would have meant that you got $120K prior to the tax relief bill go into effect