Williamsburg VA Real Estate Agent Assisting Military Families To Utilize the Homeowners Assistance Program
The Homeowner’s Assistance Program (HAP) is planned to help out military families to sell their homes when they are owing more on their home than it could be sold for. It is a strategy that has special requirements to be considered eligible and get the aid, and that is frequently a challenge.
An under water residential home loan is one in which the funds owed on the bank loan is greater than the latest market value of the home. Many owners who own Newport News real estate or Langley Air Force Base homes find themselves in this predicament, but with military families so often squeezed to make do on less money than most, they are in doubly precarious circumstances.
For most people in this situation, the only resolution to being under water on a property loan is either to do a short sale or let the home go to foreclosure. Military families that invested in a house during the peak housing boom have an alternative choice. The Homeowners Assistance Program (HAP Program) was created to forgive thYou will finde negative balance in your home sale. Realtor service fees, sales commissions, home repairs, legal fees, etc. are pretty much all taken care of under the HAP program.
HAP is a very useful tool for many military families, but it won’t come without its unique selection of problems. You will find highly precise procedures that will need to be acted upon to make sure you get your house sold successfully. Any kind of delays from introducing blunders in that forms could actually result in delays in finalizing the deal and in the long run turn away your prospective buyer. Erin Melton of the Melton Team with RE/MAX Peninsula, who sells Yorktown Real Estate, says it like this; “It’s not a very simple strategy and it doesn’t come about overnight, but the finished job permits my military families the alternative to go forward.”
The housing bubble of the past six to eight years has gotten many individuals and their families in a distressed situation. The Housing Assistance Program is 1 method for helping military families to get rid of that debt load. To check if you meet the requirements for HAP, please get in touch with Erin Melton directly at 757-784-1358 or see her online at http://tidehomes.com.
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