HAP Guidelines Eligibility & Frequently Asked Questions – Am I eligible for HAP?

HAP is a nationwide program adopted to help military homeowners when they have received Permanent Change of Station (PCS) orders to another base or duty station and are having difficulty selling their home due to lack of equity.

Understanding the basics about the Homeowners Assistance Program can be very difficult to piece together from their dedicated web-page http://hap.usace.army.mil/homepage.asp.

At the Trident Group we are former military dedicated to helping out veterans and active duty military with selling their homes and knowing the ins/outs of all possibilities afforded to them.

Here is what you need to know:

1. Eligibility. Who is eligible for HAP?

All active duty military members including Coast Guard and civilian DOD employees that have been forward deployed* who have purchased homes or were under contract to purchase a home prior to July 1 2006.  Surviving spouses* are also eligible for HAP.

Have PCS orders from February 1 2006 to September 30 2010. Orders must have a report date no later than 28 February 2010. With available funds, the PCS end date may be extended through 30 Sept 2012.

In San Diego, purchase price does not exceed $697,500.

2. Payoff.  How much will HAP contribute towards my home sale?  Will I be responsible for bringing in funds to close the deal?

Once a military member has been approved for HAP, located a realtor that understands how HAP works and had a ready, willing and able buyer, HAP will pay 90% of the original purchase price that the military member paid for the home.  The stipulation is that the sales price is within 10% of fair market value.  If the military member purchased the house with a 0% down loan, then 10% of that loan will need to reimbursed by the military member.  On a $500,000 purchase, this can mean that the military member needs to bring in $50,000 to make the sale occur.  One way to offset the amount needed to bring to closing is if the military member can show receipts for upgrades or improvements which will be added to the 90% HAP will pay.

It is EXTREMELY important that a military member hire a realtor that has extensive HAP experience as many of these details are often missed by agents and can cause problems for service members.

For more information please contact Mike or Dan at the Trident Realty Group at TridentRE@gmail.com.

Homeowners Assistance Program

Definitions:

Forward Deployment: Performing service in an area where the Secretary of Defense or the Secretary’s designee has determined that Service members are subject to hostile fire or imminent danger under Section 310(a)(2) of title 37, United States Code.

Surviving Spouses: 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 dies as a result of a wound, injury, or illness while deployed (or forward deployed for civilian employees) on or after September 11, 2001, and the spouse relocates from the member’s or civilian employee’s primary residence within two years of the death of such spouse.

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