(Conventional HAP - For BRAC where the announcement causes a market decline)
The Homeowners Assistance Program (HAP) is authorized in Section 1013 of the Demonstration Cities and Metropolitan Development Act of 1966, as amended. The law provides some monetary relief to eligible service member (including Coast Guard) and federal employee (including non-appropriated fund) homeowners who suffer financial loss on the sale of their primary residences when a base closure or realignment announcement causes a decline in the residential real estate market and they are not able to sell their homes under reasonable terms or conditions.
The US Army Corps of Engineers will analyze your community’s real estate market, conduct market impact studies, and make a recommendation to the Deputy Assistant Secretary of the Army for Installations and Housing for a final determination. If it is found and proven that an announcement caused a significant decline in a residential real estate market, a HAP may be approved.
If the two basic conditions are met, a HAP program will be established. This will be administered by real estate personnel of The Corps of Engineers District Office in coordination with the Installation Commander. Elsa can help you list or buy your house through the HAP program.
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