If you are selling real estate in a military market, it’s important for you to know all of the options out there for your seller clients. We’ve recently worked with several Realtors who were completely unaware of the Housing Assistance Program (HAP) that is offered by the Department of Defense. This program can help a military member avoid a short sale, or reduce the loss they have to contribute to help cover their mortgage after being forced to relocate.
We communicated with one military client who had short sold the home a few months prior to contacting us from a blog post – and had zero idea about this program. The program essentially provides loss assistance to those in the milltary that are relocated or moved to another part of the country and are “in the red” on their home.
Here is an excerpt from the HAP DOD website:
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