Sunday, April 4, 2010
Saturday, March 27, 2010
HAP
If you are active duty and have PCS orders you may qualify for the HAP program to help you in your house sale. This will help you to recover any short fall in what is owed and to avoid a short sale. Here are a few of the guidelines.
Eligibility:
1. Active duty or mandatory retirement at time of leave from duty station.
2. Home must have been your primary residence.
3. PCS orders between February 1, 2006 and September 30, 2010.
4. Purchased home prior to July 1, 2006.
5. Purchase price cannot have exceeded $417,000.
6. Be current on your mortgage payment.
Benefits:
1. Private Sale- formula used when you have equity in your home or if you bring money to close to make up a short fall.
Original Purchase Price times 90% minus Sales Price plus closing cost
2. Government Aquisition with a Buyer- Government buys your home and pays off your mortgage balance and pays the closing costs for your sale. They simultaneously sell your house to the buyer that is found through the sale process. Process takes 90-120 days to complete.
For more information and to download and application, check out the HAP website.
http://hap.usace.army.mil/
Call me for more information or to get started with your listing today!
Eligibility:
1. Active duty or mandatory retirement at time of leave from duty station.
2. Home must have been your primary residence.
3. PCS orders between February 1, 2006 and September 30, 2010.
4. Purchased home prior to July 1, 2006.
5. Purchase price cannot have exceeded $417,000.
6. Be current on your mortgage payment.
Benefits:
1. Private Sale- formula used when you have equity in your home or if you bring money to close to make up a short fall.
Original Purchase Price times 90% minus Sales Price plus closing cost
2. Government Aquisition with a Buyer- Government buys your home and pays off your mortgage balance and pays the closing costs for your sale. They simultaneously sell your house to the buyer that is found through the sale process. Process takes 90-120 days to complete.
For more information and to download and application, check out the HAP website.
http://hap.usace.army.mil/
Call me for more information or to get started with your listing today!
Wednesday, September 23, 2009
Tuesday, September 15, 2009
Saturday, August 1, 2009
Catching Up
Wow! It has been a busy time! I have not posted in awhile except for my new listings. I have been very thankful as I have had a bunch of new listings the past two months. There seem to be a lot of troops moving from the bases here and needing to sell their homes. Unfortunately, many of them are upside down on what they can sell their home for in today's market. Military seller's are waiting for the government to finalize guidelines for the HAP program (Housing Assistance Program). This program would provide funding for those military families who are upside down and have received orders to a new duty station. The guidelines are supposed to be available September 1, 2009 so many are waiting to see what will happen there and to see if they will be eligible.
I finally closed a foreclosure that I had the buyer for this week. It was a LONG process as the appraisal came in low and repairs were needed. It was great to finally get it closed.
I have another closing on Monday! YEAH!
I finally closed a foreclosure that I had the buyer for this week. It was a LONG process as the appraisal came in low and repairs were needed. It was great to finally get it closed.
I have another closing on Monday! YEAH!
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