DoD Homeowners Assistance Program for Military Released
Author: New Jersey Association of REALTORS
Written On: Thu, 01 Oct 2009
At the end of September, the Department of Defense (DoD) and Army Corps of Engineers published the final rules for the Homeowners Assistance Program (HAP), as it applies to Members of the Armed Forces permanently reassigned during the mortgage crisis. The American Recovery and Reinvestment Act (ARRA), passed in February, provided new relief for active duty military personnel who have been permanently relocated, and face or have faced a loss on the sale of their home. The program applies to those who purchased their property before July 1, 2006, and whose reassignment was ordered at least 50 miles away, between February 1, 2006 and September 20, 2012. The property has to have served as the primary residence, and the recipient must not have received HAP aid previously. For full information and an application, visit the DoD HAP website.
