Claude Braunstein & Associates

Like most other Americans, military personnel living in San Diego and the surrounding communites are feeling the impact of the economic downturn as well as struggling with the unique challenges of military life.  Their homes are often worth  less than they paid for them, and often less than they owe their lender. 

HAP is a program of the Department of Defense designed to aid military families who are under mandatory orders to transfer on a permanent basis.  It is designed to help transferred military homeowners who must sell their houses for less than what they owe.  The HAP program is run by the Army corps of engineers on behalf of all branches of the military. There are numerous rules and eligibility requirements but here is a very brief rundown of the current program:

·    When a home is sold at less that what it was purchased for, the program may"substantially offset" the loss up to 95% of the loss. The government will not make up past payments, junior liens or other encumbrances. It will pay allowable mandatory closing costs.

·    Sellers must make a reasonable effort to sell their homes for at least 30 days at current market value using a Corps of Engineers automated valuation model. They must document how the price was gradually reduced until true current value is reached. 

·     Applications for aid will be processed according to eligibility in this order: 

                relocating for further medical treatment.  

                September 30, 2012.

As with most government programs the aims are worthy but the funding is limited and the regulations rigorous.  San Diego homeowners who feel they may qualify for help to sell their San Diego Houses, townhomes or condominiums should go to the HAP website at  http://hap.usace.army.mil.  for more information.