The military’s Homeowner Assistance Program is getting speedier all the time! I just had another HAP contract approved, this time for a Crestview Florida home sale in the Redstone subdivision. The sellers were PCSing from Eglin Air Force Base more than 50 miles away. They purchased their home prior to July 2006, their property value had declined at least 10% and they met other HAP requirements. Primarily, they owed more on their mortgage than the property was worth.
That’s where HAP comes in to help our military service members. HAP will pay the mortgage shortfall at closing to assist the service member relocate to a new base.
For this Crestview Florida HAP sale, the airman sent in a complete application along with the real estate contract and market analysis which I provided. HAP approved the sale in about four weeks.
Here are some quick hints for Eglin Air Force Base or Hurlburt Field HAP sellers:
HAP will normally contribute 3% of the purchase price for closing costs on conventional sales.
HAP will pay the Realtor fee.
You must keep your mortgage current, pay any liens, judgments and prorated property taxes.
To speed your approval process, always send in a complete application, and hire an experienced HAP real estate agent.
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: [email protected]