DoD HAP Application Deadline Approaching

***Update.  Per information received from HAP this week 9/15/2012 not only must the application be in hand but a home must either be SOLD or Under Contract by the 9/30/2012 deadline.  This is a major change to the original information when this post *****

Though we are only heading into March, time is slipping away for any Northern Virginia military member eligible for the Department of Defense Homeowners Assistance Program (HAP).

As a quick reminder the guidelines to qualify are:

1. Permanent reassignment to a new duty station outside a 50-mile radius of the member’s former duty station or home port.
2. Reassignment ordered between 1 February 2006 and 30 September 2010.
3. Property purchased (or contract to purchase signed) before 1 July 2006.
4. Must have a decline of at least a 10% home value loss from the date of purchase to date of sale.
5. Property was the primary residence of the owner
6. Owner has not previously received these benefit payments.

The final deadline for submitting your application is September 30, 2012. Per my conversation with a HAP Realty Specialist today there are no plans at this time for exceptions to the date. Having closed 35 DoD HAP transactions for Northern Virginia military members since the program started I’ve worked hard to stay current on what is happening with the program.

If you are a military member who put your home up for rent when you left Fort Belvoir, the Pentagon, Quantico MCB or any other installation in the area don’t miss your chance to use your HAP benefits. There have been a few other changes recently which might change the options you consider when you are reviewing offers on your home. Give me a call if you need assistance in Northern Virginia in selling your home under the DoD HAP program.

2 thoughts on “DoD HAP Application Deadline Approaching

  1. I have a question. I have a buyer contract as of Sep 1 2012. But the deadline date of HAP is Sep 30. Does that mean I have to CLOSE by Sep 30? Or is the sales contract from Sep 1 good enough to satisfy timelines, even if the CLOSING isn’t for 30-60 days?

  2. The September 30, 2012 deadline is for qualified applicants to get their paperwork to HAP. Your closing can take place after the date as long as the seller is approved and their is funding available.

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