This beautiful home on Shire Lane in Silver Oaks, Crestview Florida just sold. The home had impeccable upkeep. It was 2751 square feet, four bedrooms, two full baths and two car garage. The landscaping was outstanding. The sale price was $218,000.
With a HAP Augmented Sale (also called Government Aquisition), HAP will cover the loss at closing not to exceed the mortgage payoff. You can see that the HAP Private Sale will help the service member recoup more of their losses. HAP Private Sale is not an option for all service members, since the mortgage deficiency may be significant, and they would have to initially cover the loss with their own funds, while waiting for reimbursement.
This home sold as an Eglin Air Force Base HAP Private Sale. HAP (Homeowners Assistance Program) is a program which assists U.S. military service members relocating to new bases, called PCS (permanent change of station). In these cases, the service member's mortgage exceeds the market value due to home values declining. Under certain circumstances, HAP will cover the mortgage loss. With a HAP Private Sale, the government reimburses the military service member after closing for the loss, including closing costs up to 3% for conventional loans. The service member would bring funds to closing to cover the deficit between the contract net and the mortgage balance. HAP would reimburse based on 90% of the original sale price plus improvements.
For help with your Eglin Air Force Base or Hurlburt Field HAP sale, contact an experienced real estate agent specializing in HAP, VA compromise sales and short sales.
It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale, pre-foreclosure and HAP specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Great program!
ATTENTION North Las Vegas agents!
Bill
Congrats Wendy, you're the go to gal for short sales (or any sales for that matter) in the Destin area.
Bill - The other cool thing is that the HAP program is speeding up in processing time!
Gabe - Thank you so much!
Thanks for the additional HAP program info. I learn something new everytime I visit!
Wendy,
congrats on the sale and for the HAP information.
Have a great holiday weekend.
Lisa aka @allstarmom3