RECOVERY FUNDS AVAILABLE TO MILITARY HOMEOWNERS
Posted: Tue May 19, 2009 1:57 pm
RECOVERY FUNDS AVAILABLE TO MILITARY HOMEOWNERS
DoD Announces $555 Million Expansion To Housing Assistance Program
Military and Department of Defense (DoD) Civilians who face financial losses due to the current housing downturn can find relief in the ARRA influx of funds to the Housing Assistance Program (HAP). Active members, former members, and survivors of those who have died on deployment of the Army, Navy, Marine Corps, Air Force, Coast Guard, as well as DoD civilians, who have sold a primary residence for a loss, or are considering selling their home may qualify for funds.
The Recovery Act appropriated $555 million in funds to the HAP, which DoD will use to temporarily expand this program in order to partially reimburse eligible military and DoD civilians who face financial losses selling their primary residence. The program has been providing financial assistance to military and DoD civilians for more than 40 years, and is familiar to many because of its benefits provided to personnel at base realignment and closure (BRAC) sites where government action caused a decrease in market home values.
Home sale loss reimbursement will be determined by the following priority order: :
· Wounded service members relocating for treatment or medical retirement, and for the survivors of those who have died while on deployment.
· Military and DoD civilians affected by the 2005 BRAC round, without the need (which existed under previous law) to prove that the base closure caused the local market decline.
· Normal military permanent change of station (PCS) moves, on a temporary basis.
In order to adjust for the unprecedented real estate market declines and the current economic condition, the ARRA HAP money will have slightly modified requirements compared to the normal funds. Special eligibility criterion for this temporary program expansion is available on the HAP website at http://hap.usace.army.mil <http://hap.usace.army.mil/>. California’s HAP Field office is currently accepting applications. To speak with a HAP representative, call (916) 557-6850 or 1-800-811-5532.
The California Recovery Task Force can be reached can be reached through its web site, www.recovery.ca.gov <http://www.recovery.ca.gov/>, or by telephone at (916) 322-4688.
DoD Announces $555 Million Expansion To Housing Assistance Program
Military and Department of Defense (DoD) Civilians who face financial losses due to the current housing downturn can find relief in the ARRA influx of funds to the Housing Assistance Program (HAP). Active members, former members, and survivors of those who have died on deployment of the Army, Navy, Marine Corps, Air Force, Coast Guard, as well as DoD civilians, who have sold a primary residence for a loss, or are considering selling their home may qualify for funds.
The Recovery Act appropriated $555 million in funds to the HAP, which DoD will use to temporarily expand this program in order to partially reimburse eligible military and DoD civilians who face financial losses selling their primary residence. The program has been providing financial assistance to military and DoD civilians for more than 40 years, and is familiar to many because of its benefits provided to personnel at base realignment and closure (BRAC) sites where government action caused a decrease in market home values.
Home sale loss reimbursement will be determined by the following priority order: :
· Wounded service members relocating for treatment or medical retirement, and for the survivors of those who have died while on deployment.
· Military and DoD civilians affected by the 2005 BRAC round, without the need (which existed under previous law) to prove that the base closure caused the local market decline.
· Normal military permanent change of station (PCS) moves, on a temporary basis.
In order to adjust for the unprecedented real estate market declines and the current economic condition, the ARRA HAP money will have slightly modified requirements compared to the normal funds. Special eligibility criterion for this temporary program expansion is available on the HAP website at http://hap.usace.army.mil <http://hap.usace.army.mil/>. California’s HAP Field office is currently accepting applications. To speak with a HAP representative, call (916) 557-6850 or 1-800-811-5532.
The California Recovery Task Force can be reached can be reached through its web site, www.recovery.ca.gov <http://www.recovery.ca.gov/>, or by telephone at (916) 322-4688.