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Why You Should Buy a HAP Home in Crofton MD

Crofton MD Real Estate Q & A

Exterior for blogIf you’re looking for a good deal – and who isn’t? – you should look for a HAP home, such as this Walden townhome pictured on the left.  (See the virtual tour below)

What exactly is HAP, you ask . . .

The Homeowner’s Assistance Program (aka HAP) was created in 1966 to provide monetary relief to active duty service members and government employees who suffer financial loss when a base closing negatively impacts their home sale. 

The American Recovery and Reinvestment Act of 2009 expanded the program on a temporary basis to assist additional beneficiaries, including service members required to relocate during the home mortgage crisis.

HAP makes it possible for eligible “under-water” property owners to sell their property without going through the lengthy and frustrating short-sale process or risking foreclosure, even if they owe more than their home is currently valued.  That is GREAT news for home buyers!

Unlike a short-sale, the HAP process generally goes quite smoothly –  taking about 30 days from contract to approval, and another 30–60 for closing.  One of my friends was the listing agent recently for a HAP sale that closed just 49 days after contract. 

Don’t let this buyer’s market get away from you with taking advantage of the great deals available to you.  Contact me today about buying a HAP home.

Virtual Tour for two HAP Listings:

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