H.A.P. is the Homeowner assistance program and in my opinion is one of the best programs available to both home sellers and home buyers. The H.A.P. program is exclusively for military service members who purchased a home in the area they were assigned any time prior to July 1, 2006 and were PCSed at least 50 miles from that duty station prior to September 30, 2010. If the values of the service members home have dropped they can apply for the H.A.P. program. For example, service member Bob buys a home for $250,000 in May 2006, is reassigned in June 2009. Values have dropped and he was not able to sell his home. bob rents his house for 2 years hoping values will go up. Unfortunately for Bob, values continue to go down. It is now 2011 and Bob's tenants have moved out. Bob applies for H.A.P. since he is eligible. Bob contacts a qualified H.A.P. realtor to give him a market value for his home. The house appraises for $180,000. The realtor understands that H.A.P will authorize the sale for at least 90% of appraised value. 

 Buyer John comes along and offers $165,000 for the home. Seller Bob agrees and does not need to negotiate the offer. Bob does not need to negotiate because H.A.P. will compensate Bob up to 90% of what he paid for the home! Example: $250,000 -(10%) = $225,000 (90%)
Seller Bob is only out $25,000 not $85,000! Buyer John gets a great value on a home for $165,000. This scenario certainly beats an $85,000 loss, short sale, foreclosure, or Bob continuing to apply towards his payments for the next 5 or 10 years. If you think you are eligible for a H.A.P. sale contact a realtor who is skilled and experienced in this area.

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