Home Buying in Leesburg>Question Details

Freedom7, Home Buyer in Leesburg, VA

Has anyone heard of the HAP program designed to help Military personnel?

Asked by Freedom7, Leesburg, VA Mon Mar 22, 2010

I have researched the Homeowners Assistance Program that is designed to assist military personnel, but I can not find any information that is beneficial to the buyer. I made an offer in January - offer accepted, but I still do not have a closing date. Doe anyone know how this program is structured and how it works - especially for the buyer?

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It sounds as if you already have an agent assisting you who should be getting this information from the listing agent. I have listed and settled 5 HAP transactions and have multiple ones under contract. The final piece of the puzzle for settlement is the sellers PCS date and Bill of Lading for their household goods. Have your agent check with the listing agent to determine where they are in getting all of their paperwork into HAP.
1 vote Thank Flag Link Mon Mar 22, 2010
Once the submit their Bill of Lading then if all of the other required paperwork is in they should be assigned a closing date. I would be surprised if you make an end of April closing date but mid-May could be realistic. Fortunately for the sellers the program exists otherwise we would have a large segment of our military population, those who serve and protect our lives daily, facing short sales, foreclosures and ruined credit.

Good luck.
1 vote Thank Flag Link Mon Mar 22, 2010
The government set up this program authorize by law, to assist homeowners who are either in the military or civilians working for the military on the affected base in the sale of their home due to the fact that there is a base closure or similar situation. There are several benefits to the program, and the determination of what benefit is provided to the homeowner, is reviewed by the US Army Corps of Engineers. You can find the basics of the program and the phone number to call in the different regions , as well as the headquarters phone number in their brochure on their website.
1 vote Thank Flag Link Mon Mar 22, 2010
The Hap Program has ended.
0 votes Thank Flag Link Sat Mar 2, 2013
I should add something to my earlier comment...we closed in 45 days but it would have been delayed if we had submitted for reimbursement for upgrades we had made to the home since we purchased it. We had purchased new kitchen appliances and had replaced all of the windows, and was qualified to submit those expenses for added cash at closing (for us, the sellers). But opted to not do that and so we were able to close a lot faster. If you are the buyer and are experiencing delays, it may be because the seller is holding out to get this additional money. Just a thought.
0 votes Thank Flag Link Sat Mar 2, 2013
It is absolutely a benefit to the sellers/owner who meets the criteria of the HAP program. It doesn't short the lender either, so their approval isn't required. But due to the scrutiny of the program's administrators, which happen to be the Army Corps of Engineers, it does take a bit longer than the normal standard sale. Mine was about 2.5 months from contract to close, which worked for both my seller and buyer.
0 votes Thank Flag Link Sat Mar 2, 2013
I sold using hap and was amazed! We had our home listed for years with 2 other realtors that had the misconception that hap was like a short sale. By that time, I had a pretty good relationship with the hap rep from asking questions and doing paperwork, so i asked her if she could recommend a realtor in my area (colorado springs). she named two, i picked one, and we had an offer in 2 weeks from time of listing and hap approved it 2 days later. We closed 45 days later, with no problems. The buyer got a killer deal and we sellers walked away without any dings on our credit!
0 votes Thank Flag Link Sat Mar 2, 2013
I'm on the same boat with typical time lines. No movement yet on my file. If you're purchasing a home through HAP expect some delays.
0 votes Thank Flag Link Tue Aug 3, 2010
There are 3 basic scenarios of benefits for the seller. With all proper paperwork submitted, application and offer, in Washington State my clients are getting their benefits in 45 days for the quick Private Sale Benefits, where the seller pays some. Still about 120 days for Government Acquisition Benefits where the government purchases the home, and then sells immediately to the buyer. That sounds like the scenario you're in.

I'm closing a couple HAP transactions a month currently.
Web Reference: http://thehapprogram.com
0 votes Thank Flag Link Thu Jul 1, 2010
I have a HAP closing next week and have found the HAP reps to be very helpful. I can't imagine paperwork sitting on their desk for a month but there is a time line that is given to us and it does take time. We had a ratified contract the 26th of April and have final approval to close next week. A lot is in having the correct paperwork in and following directions. The agent that brought the buyer to my HAP listing was not familiar with the program at first but she has really studied up since we went under contract and has done a great job of working through problems. The settlement company that HAP uses is also very responsive, I've found. Hang in there!
0 votes Thank Flag Link Fri Jun 18, 2010
I do know that the HAP paperwork was submitted, sat on someone's desk for a month (according to the seller) and the seller also indicated that they have scheduled their movers for the end of April and are leaving for their next duty station on May 1 - and he hoping to close at the end of April - but closing is all contingent on the government. You are the first realtor that I've spoken to that has experience with HAP. (two are friends of mine who have not heard of it...as well as my current realtor!) It appears to me that it is almost like a shortsale.

Michelle, I was basically looking for a better understaning as to how the HAP works.. I am aware that it is in place for the Military seller, but being a first-time home buyer - I want to understand the process as it pertains to me - the buyer. it is not actually a shortsale - my offer has already been accepted - I have had my homeowners inspection, I already have my loan approved - everything is in place as far as what I need to do.
0 votes Thank Flag Link Mon Mar 22, 2010
It is a DOD program for sellers affected by base closures or realignment, administered by the Army Corps of Engineers.
A seller would apply for assistance with the sale of their existing property on Form 1607, then proceed to purchase once pre-approved.

I expect you are applying to buy with a VA loan? if you would like answers to any questions about the local area, or a second opinion, I live in the area and specialize in this locality so I would be pleased to help.
0 votes Thank Flag Link Mon Mar 22, 2010
This program is for current homeowners that need assistance on their current mortgage. It does not apply to buyers. Was your offer on a short sale? That could be why there is no closing date, because the bank is still reviewing your offer. The military can use VA loans which is basically 100% financing. What other assistance were you looking for? It can't really get much better than 0 down.
Web Reference: http://hap.usace.army.mil.
0 votes Thank Flag Link Mon Mar 22, 2010
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