Homeowner’s Assistance Program 2011

Department of Defense’s Homeowner’s Assistance Program 2011

Vice President Joe Biden recently announced the Department of Defense’s plan to expand its Homeowner’s Assistance Program (HAP).  This program, which is part of President’s Obama Economic Stimulus Relief Package, comes to the aid of service members by providing monetary relief for those who have been forced to sell their homes at a loss.  The new $555 million program expansion seeks to help service members who have been forced to relocate because of base closures or usual assignment rotations.  It offers military service personnel home-sellers the chance to move without having to go through the painful process of a short sale and possibly ruining their credit.

For HAP to be implemented in your community there must be a base closing announcement or realignment action that affects your area in addition to a determination that real estate values have declined as a direct result of the closing or realignment announcement.

The Homeowner’s Assistance Program provides benefits in 4 ways to eligible applicants.

  1. Reimbursement for part of a member’s loss as a result of selling their home.
  2. Assistance if eligible applicant doesn’t have available funds to pay off their mortgage from the sale of their home
  3. Purchasing member’s home by paying off the mortgage.
  4. Providing help if you default on your mortgage.

To be eligible for this program you must be a military service member or federal civilian employee assigned at or near the installation announced for closure or realignment.  Civilian and military personnel on overseas tours who transferred within 3 years prior to the announcement and who are homeowners in the area are eligible as well.  Besides those two large categories, there are many other small, specific cases where applicants can receive the benefits listed above.

If you are interested in receiving immediate attention to find out if you qualify for this program, please contact us at our website

If you do not qualify for this program yet are still searching for a home and are interested in becoming a homeowner, you could possibly still be eligible for other lending incentive programs offered by SC State Housing such as the first time home buyer’s program.  This program is offered year round to a wide range of people interested in owning a home. 

Blog Signature: Homeowner’s Assistance Program, SC Housing, Service Member, Department of Defense, Military, HAP 

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Columbia,SC EXIT Real Estate Solutions – Jae Kim, Broker
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Jae Kim is a an expert Realtor®/Broker in the Greater Columbia Area including the cities of Blythewood, Columbia, Lugoff, Elgin, Lexington, Irmo, Chapin, West Columbia and more. Jae has in depth knowledge and experience in many large neighborhoods including Lake Carolina, LongCreek Plantation, Crickentree, Wildewood, Woodcreek Farms, Governors Grant, Ascot, Ashford, Chestnut Hill Plantation, and Saluda River Gardens. He can help you find anything you are searching for, including homes, houses, condominiums, lots, land, townhomes, foreclosures, short sales and real estate listings for sale. He also has extensive experience in relocations, military transfers, & investments. Jae Kim is a Georgia Tech graduate in Mechanical Engineering. He worked for 12 years in distribution and manufacturing management with companies like Amazon.com, Target, Mobil Chemical , WR Grace , and QVC. Jae has extensive experience in the real estate industry from past purchases and sales (renovations, foreclosures, short sales, duplexes, quads, apartments, commercial property, resort land, etc...). He leverages his experiences to help his clients and their needs. Jae began his real estate career with Coldwell Banker in Camden,SC. He had his first full year in 2005 (see below). Jae moved to RE/MAX in 2007 and started his team. In 2008, Jae became a broker and his team maintained an average of 40 listings with an average price of $200,000. In 2009, Jae received the prestigious CRS designation, placing him in the top 4% of all real estate sales agents nationwide. In May 2009, EXIT Real Estate Solutions, opened its doors to the public with Jae Kim as the Owner/Broker-in-Charge. Jae has exceeded $40,000,000 in transactions and continues to remain in the top 1% of agents in the Greater Columbia area. Jae was the 2010 Top EXIT Realtor® in Greater Columbia and #3 in the entire state. Jae has just recently opened his second office in Irmo, SC and is excited to continue with this success and grow! Recently, Jae Kim was recognized by The State Newspaper for his sustained success in real estate despite the hard market conditions. Previous clients have been overwhelmed with joy after working with him. Many are shocked how quickly he is able to sell their property, and others are thrilled about how easy and stress-free he makes the process of buying or selling a home. They have appreciated his broad knowledge base along with the endless tips and advice he is able to provide. Additionally, they assert that Jae’s hard work, commitment, and professionalism make him THE Realtor® to work with! In his free time, Jae enjoys spending
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