There is a new Homeowner Assistance Program designed to help current home owners who are in the military and being transferred as the result of the Base Realignment Commission (BRAC).  Believe it or not, the US Army Corps of Engineers is administering a program that provides financial assistance to our military families to be able to sell their home and still be able to pay off their mortgage without having to go through a short sale or foreclosure.

One of my very best clients just completed a settlement on Monday using this program.

It was tough going because it is a new program.  Not that many people have gone through it.  My clients put in their application back in June.  They were told to wait because the program hadn’t been entered into the Federal Register and final rules hadn’t been developed.  Finally, when all that happened, people in the US Army Corps of Engineers and contractors employed to attend settlements or process the applications were playing it all by ear.

My client stayed on top of things, though.  In spite of several changes and still needing to bring a sizable chunk of cash to the settlement table everything came together.  The home buyers of the home are thrilled.  The home sellers avoided a serious threat to their credit and security clearances.

By the middle of the afternoon, everyone was smiling and passing keys back and forth.

Another satisfied client!