Relief for Military Homeowners in Stimulus Package

Week of July 06, 2009

The stimulus -- signed into law by President Obama on Feb. 17 -- features a provision titled the Military Homeowners Assistance Program (HAP). HAP benefits (normally payable only at BRAC locations) will be extended to certain military homeowners who bought homes before July 1, 2006 and who sell the homes before Sept. 30, 2012, according to MOAA.com. HAP will not only provide help to military homeowners who receive PCS orders and are unable to sell their homes, but will also assist wounded warriors who must relocate due to medical reasons, and surviving spouses of fallen servicemembers who are also forced to move. Additionally, the stimulus will help military families who want to buy their first home. A first-time Homebuyer Tax Credit was included in the stimulus to give prospective home buyers a credit of 10 percent of the purchase price, up to a maximum for $8,000. Get more information.

Visit the Military.com PCS/Home Buying Guide. It will help you sort through the moving process and ease your PCS. This guide offers moving checklists, articles about finding homes in the right neighborhood, tips for selling your home fast, and much more.