The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.
HAP provides assistance in four ways. For eligible applicants, the Government may:
- Reimburse you for part of your loss from selling your home.
- Assist you, if you don’t have funds from the sale of your home to pay-off your mortgage.
- Purchase your home by paying off the mortgage.
- Help, if you default on your mortgage.
Link to:
http://hap.usace.army.mil/homepage.html
for more information.
I do not believe this program is actually up and running yet... but it may have some relief for a lot of military personnel, eventually.
