Comments on: Homeowners Assistance Program Helps Military Members Who Lost Money Due to PCS

By: Ross

Ross — Tue, 02 Mar 2010 00:49:25 +0000

I live in Yuba City CA, I bought my home for 300,000 in February 2007 and now I am faced with a PCS to Texas in June. My house is now worth 195,000 dollars, a HUGE loss! I can’t even get near my mortgage payment by renting out, about a 800 dollar loss a month. On top of that I lose my tax incentive of paying interest only on my loan since I am getting “extra income” I am 6 months short of making the cut off? That seems a little unfair the market didn’t really crash until the summer of 2007. I don’t know what to do.

Any help or suggestions from anyone would be great!

By: Ryan

Ryan — Mon, 01 Mar 2010 20:08:25 +0000

Trisha, I recommend contacting the folks that run the program. There are many varying factors that could make you eligible or ineligible for this program. The people running the program will be able to give you the best information based on your situation.

By: Ryan

Ryan — Mon, 01 Mar 2010 20:06:50 +0000

Melissa, I recommend trying to work with your lender. You are a few months out, so they may try to work with you to avoid a foreclosure or short sale. It may be possible to rework the loan or rework the terms to make the payments more affordable. I know that doesn’t solve the problem, but it may help, and lowering the monthly payments may make them low enough that you will be able to afford to rent out your home either for cost, or at a small monthly loss. It’s not a perfect solution, but it may be feasible. Beyond that I am not sure your options. I wish you the best.

By: Hoang

Hoang — Sun, 28 Feb 2010 00:09:45 +0000

We are on the same boat then.My husband and I have to move to Ill in June , and we bought our house back in May 2007. I called HAP for help , the reply was ” sorry we could not help you” . What should we do ? Plz helppppppppppp

By: Melissa

Melissa — Fri, 26 Feb 2010 15:34:16 +0000

We are in a similar situation. We bought our home in Tampa, Fl in March 2007. We tried to stay here for another tour so we could save our home, but was denied. We have orders to DC in August. What do we do with our home? We won’t be able to rent it for what our mortgage is and we certainily can’t sell it ($50,000 loss). The Hap program does not apply for us. Where can we go for help. Is our only option a short sale?
Melissa

By: Trisha

Trisha — Wed, 24 Feb 2010 23:31:53 +0000

Please help me out… I am confused on if I qualify. I purchased my home in Nov 2007 and just received PCS orders for one year and I will receive a new set one year later to who knows where.. I live in the DC area and we have been hit really hard and a loss of over 80K on homes. BRAC is bringing folks to the area but I know the new changes state you don’t have to be affected by BRAC to qualify. Please help me out.

By: Ryan

Ryan — Thu, 28 Jan 2010 04:20:58 +0000

Thanks for the update, Charles.

By: Charles

Charles — Wed, 27 Jan 2010 19:21:21 +0000

Ryan and all who say this program is for BRAC only. Please read the FAQ page and Expanded HAP rules. It applies to all personnel who are required to PCS beyound 50 miles and who purchased a home on or before 1 Jun 2006.

By: Ryan

Ryan — Thu, 21 Jan 2010 13:38:53 +0000

Jose, The HAP is for bases closing due to a BRAC closure, not all PCS moves. Please visit the FAQ page for more details on the program. Best of luck.

By: jose

jose — Thu, 21 Jan 2010 13:33:43 +0000

So, if I purchased my home after 2006 I do not qualify for this program?

I just receive my assignment in January 2010 and have to report on April 2010.

Because I am on assignment to the eastcoast, over 1900 miles away from my home. What does this mean in terms of my situation. I would hope my home sell prior because renting is not an option.