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More specific guidelines have been posted by the Dept. of Defense for military members that are affected by the decline in property values. Some of the highlights:
• Must have owned the home prior to July 1, 2006
• PCS’ed (transferred) after Feb. 1, 2006 and before September 30, 2012 • Benefit available one time only
• Applications where the service member is in danger of foreclosure will be given priority status
• Government purchase program available after the home has been marketed for 120 days, but benefits are better when home is sold through a real estate agent.
• DOD guidance is anticipated by mid April 2009
• Applications are estimated to take 90-120 days to process before benefits payments are received.
To read the FAQ’s and learn more, visit the web page Homeowner’s Assistance Program.
I'll let you know as I learn more about the process. Call me if you have any questions, or want more information on how this might help you.
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I was just reading about the details of the Recovery Act and learned something I thought was very exciting.
$555 million dollars has been allocated for the Homeowner's Assistance Program, a Dept. of Defense program to help military families relocate. Usually this program is for families stationed at a base that is closing, and have to move before their orders are up. The bill that was signed makes provisions to expand the guidelines to help military families that have to move and are facing a loss on selling their home.
Most of the details regarding qualification and applying for assistance are still being finalized, but this is great news for our local market. As I learn more details, I'll keep you posted.
Best Regards,
Melissa Tolson, GRI
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With home buyers on the hunt these days for great deals Short Sales/Foreclosures have become a hot topic. For buyers a short sale can be a great buy. They can also become very discouraging to a new buyer who is searching for their dream home.
If you want to have a smooth transaction with a short sale here are a few helpful tips.
All in all, short sales can be a great deal, just be prepared for what lays ahead.
For questions, please contact us. We are specially trained in short sales and can help you with anything you need.... buying or selling.
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The FairTax is coming to Jacksonville!
April 11, 2009 at the Jacksonville Landing
If you've ever heard of this and wondered what it's all about, this would be a great chance to learn about it. I believe that as consumers and citizens it's our job to educate ourselves on the issues facing our country and communities. Whether you support an issue or not, knowing what it is all about is important before you pass judgement.
This is NOT the FLAT Tax, and it's NOT just more sales tax. Come out to the rally and learn what all the talk is about.
Seats are FREE. Doors open at 2, program starts at 3.
See you there,
Melissa Tolson
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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