Alpharetta Ga Military Homeowner’s Assistance Program

Military personnel and federal employees who are “under water” with their mortgage can benefit from a program by the Department of Defense that is administered by the US Army Corps of Engineers under the Base Closure Act known as HAP (Homeowner’s Assistance Program). This program was extended under the American Recovery and Reinvestment Act of 2009. For full information, go to

This program was originally designed to apply to members of the military or federal employees who owned a principal residence in an area where a base closure or realignment caused the values of the homes to decline.
Eligibility for More People

However, it has been extended to military personnel who were reassigned and had to move more than 50 miles during the mortgage crisis. These military homeowners qualify if they were reassigned between February 1, 2006 and September 30, 2012, they purchased the principal residence that they are selling before July 1, 2006 and they sold it between July 1, 2006 and September 30, 2012.

It also applies to members of the military and federal employees who were wounded in the performance of their military related duties after September 11, 2001, as well as the surviving spouse of someone who was killed in action after that date. The website encourages people who may not fit all of the requirements to apply anyway to see if they can get benefits.

The website says that “HAP provides assistance in four ways. For eligible applicants, the Government may:

1.Reimburse you for part of your loss from selling your home.
2.Assist you, if you don’t have funds from the sale of your home to pay-off your mortgage.
3.Purchase your home by paying off the mortgage.
4.Help, if you default on your mortgage.”
Short Sales

For short sales, the private sale reimbursement program is the most applicable. Under that program, the military member or qualified government employee sells their home and gets reimbursed for some of the losses on the sale of the home. This reimbursement is used to pay off the lender so that if there are enough proceeds the lender gets fully paid. If not, it is a short sale that is partially reimbursed. The website indicates that the amount of reimbursement can be 95% of the difference between the value of the house before the base closure and the current value (or sales price), but it also indicates there can be a payment of 90% of the original value of the home, with the added value of any improvements to the home. The seller can also be reimbursed for closing costs, including the real estate commission.

So, the home is sold with a short payment to the lender, but with an agreement to reimburse the lender later when these benefits come in. This is an excellent use of the short sale process, as it gets the seller moved gracefully and may get the lender fully paid. At a minimum, the lender will get more than just the sales proceeds of the short sale, as the reimbursement is in addition to what the buyer will pay for the purchase price.

If you are in the military or a qualified federal employee, look into these special benefits! Members of the Armed Forces deserve to get every benefit allowed, as they have definitely earned it.

Please call me or email me for details
Are you interested in selling your property as a short sale? Call me at (770) 866-2561 for a free consultation. When you call, I will explain how the process works in detail and answer any questions you may have. Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Alpharetta loan modification kit has the instructions you will need to get a loan modification approved with your lender.

Thanks for reading this, Roland Lorans TEAM

Roland is a Real Estate Agent at Better Home and Gardens Real Estate Metro Brokers .

Phone: (770) 866-2561.

View My homes for sale at

Roland Lorans specializes in loan modification assistance and short sales in Alpharetta Georgia . Alpharetta Loan Modification Help, Alpharetta Short Sales. Alpharetta Short Sale Realtor. Short Sale Realtor. Alpharetta GA Short Sales.

About gashortsalepro

Roland Lorans TEAM Keller Williams Real Estate Atlanta Partners We are Realtors that do Short Sales and Help Save Houses 770-866-2561
This entry was posted in Uncategorized and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s