Super Fitness Health BlogWilliamsburg VA Realtor Assisting Military Personnel To Make Their Way Through the Homeowners Assistance Program
The Homeowners Assistance Program was meant to help military personnel to sell their homes if they may be owing more on their home than it could be sold for. It happens to be a solution that has specific specifications to be considered eligible and obtain the aid, and that can be a hassle.
An under water bank loan is one whereby the money owed on the mortgage loan is greater than the existing market value of the home. Many home owners who own Newport News real estate or Langley Air Force Base homes find themselves in this position, but with military families so often forced to get by on less money than most, they are in even more stressful circumstances.
For most homeowners, the only solution to being inverted on a home finance loan is either to do enter into a short sale scenario or let the bank foreclose on the home. Military personnel who took out a loan on a house during the peak housing boom have another choice. The HAP is intended to delete thYou will finde negative balance when you go to sell your home. Realtor charges, commissions, home repairs, attorney’s fees, etc. are all dealt with under the HAP program.
HAP is a fantastic resource for some military families, but it doesn’t come without its particular set of headaches. There are still highly precise terms that ought to be utilized to help get your property sold and closed. Any delays from making errors in the contracts could potentially result in delays to your closing date and consequently cause your buyer to walk away. Erin Melton of the Melton Team with RE/MAX Peninsula, who specializes in Williamsburg real estate, puts it this way; “It may not be a simple technique and it doesn’t happen quickly, but the final result affords my military families the choice to move forward.”
The real estate bubble of the past eight or more years has landed a lot of individuals and their families in a serious predicament. The HAP Program is 1 means of assisting military families to rid themselves of that burden. To verify if you are eligible for this program, please get in touch with a professional directly at 757-784-1358 or visit her via the web at http://tidehomes.com.
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