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12 things to know about the HAP Housing Program for military
Good news on the HAP Program
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The good news for military personnel at Fort Carson, Schriever AFB, Air Force Academy and Peterson AFB is that 
further financial help may be available through the Homeowners Assistance Program (HAP). HAP is an established Department of Defense program that is managed by the US Army Corps of Engineers. It was initially only used to assist in Base Realignment and Closure (BRAC) moves, but the new economic stimulus plan expanded the program to include Permanent Change of Stations (PCS) moves.
The program offers military homeowners a chance to move without having to go through the process of a short sale and the possibility of ruining their credit. (This is very extremely important for anyone with a security clearance.)
Here is a summary of the HAP program for PCS applicants
1. Qualifications: PCSing more than 50 miles, having purchased your home or entered into a contract to purchase prior to July 1, 2006. Also, you must have lived there and it was your primary residence; and your orders were between February 1 2006 through September 30, 2012. The requirements also state that the Owner must not previously received these benefit payments.
2. Your home must have declined at least 10% in value. (This isn’t a problem in the Fort Carson and Colorado Springs market).
3. First priority HAP PCS assistance is given in the Dallas District to applicants with the MOST COMPLETE PACKAGE.
4. HAP benefits are based on the amount you originally purchased the property, plus capital improvements (prior fair market value PFMV verified by your settlement statement). The full amount of your negative value will not be reimbursed.
5. The government will provide benefits within two to four months of receiving your application. They are working on staffing to improve the turnaround time; and have continued to add additional staff.
6. The web advises you to contact your local district office. For the Colorado Springs area, please contact the Army Corps of Engineers Dallas District.
7. The web site states they will make up “liabilities” to service members from a foreclosure, but not past due payments or junior liens you obtained after buying the property.
8. Some of your closing costs will be paid for, including title services and Realtor fees. HAP stipulates that these are common fees for your marketplace, and do not exceed 10% of your purchase price. It is very “normal” in the Colorado Springs housing market, for buyers to ask for a portion of their closing costs to be paid by the seller.
9. The government recommends you use a Realtor to sell your home and states that using a Realtor will may increase your chances of finding a buyer.
10. You should try to market your home for at least 120 days, but the main consideration is that the offer on your home is ”fair market value”.
11. Your benefits will NOT be taxable as income to you.
12. Per the Realtor Guide , you or your Realtor must maintain records of price changes, showings, offers, etc to demonstrate that the house was not sold at too low a price. It also says ” If a home sells in its first marketing week, it was probably under priced. In cases where it appears a home was sold below market value, the responsible district will obtain a contract appraisal
As soon as you know you will have orders from Fort Carson, Schriever or Peterson AFB, or the Air Force Academy, apply for assistance immediately.
Here is the HAP application checklist and HAP application.
If you would more information about selling your home at the HAP Program, contact Kathy at 719-287-1049
or email at KTorline@msn.com
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