Joint Base Charleston Real Estate

Help For Charleston AFB Real Estate Sellers

June 25th, 2009 10:03 PM by Jodie Ford

Help For Charleston AFB Real Estate Sellers 

The Charleston AFB real estate stimulus package features a provision extended to certain military homeowners who bought homes in Charleston, SC before July 1, 2006 and who sell the homes before September 30, 2011. Titled the Military Homeowners Assistance Program, these benefits have normally been payable only at Base Realignment Commission locations.

The purpose of the expanded Charleston AFB, SC program is to help military and civilian homeowners who fall into the following categories: are wounded warriors who must relocate due to medical reasons, surviving spouses of fallen service members, Department of Defense, Coast Guard and civilian fallen warriors, who are forced to move within two years of the death and active-duty service members who are in the middle of foreclosure or unable to sell their home in the event of permanent change of station orders outside a 50 mile radius of their current permanent duty station.

The new law authorizes but does not require help to the homeowner in one of several ways: buying the house and selling it through a contractor; paying off the outstanding mortgage; paying up to 95 percent of the prior fair market value of the property minus the fair market value at the time of sale (for BRAC homeowners, this is based on the fair market value before the public announcement of BRAC action); Paying up to 90 percent of the prior fair market value as the purchase price when the Defense Department purchases the house. For foreclosures and other actions, the program can go back and pay off a homeowner’s enforceable liabilities and work with the lender to straighten out the owner’s credit.

The Army Corps of Engineers administers the program for the Defense Department. Contact was made with the Army Corps of Engineers Office in Savannah, Georgia. They are currently awaiting guidance on implementing this portion of the stimulus package.

Service members of Charleston AFB, SC who believe they are eligible for assistance should complete the BRAC application package to the best of their ability. Provide all requested applicable information and submit a package to one of the addresses provided on the Web page http://hap.usace.army.mil. Applications will be date stamped when received and held until further guidance is provided. Once HAP receives guidance on implementing the stimulus package, applications will be processed in the order in which they are received.

For more information or assistance, contact Jodie Hurt at (843) 819-4398 or email jhurt@exitcharleston.com. More information is also available at http://www.thecharlestonrealtor.com/hap

 

Jodie Hurt –Charleston Air Force Base, SC Real Estate For SaleI specialize in helping military families enjoy a smooth PCS in and out of Charleston Air Force Base, South Carolina. I have a passion for helping people, and I love what I do. Call me (843) 819-4398 and let me make this the easiest PCS yet!

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Posted by Jodie Ford on June 25th, 2009 10:03 PM

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