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from NNMC Bethesda to Fort G. Meade to Andrews AFB

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View Andrea's business-profile on Militaryavenue.com

 

 

 

 

 

 

 

 


Real Estate NEWS

 

 Senate Proposes Military Homeowner Relief

Week of February 02, 2009  

 

The "American Recovery and Reinvestment Act" (S. 336), most commonly known as the economic stimulus bill, has an administrative provision that would relieve military homeowners on PCS orders who are bottom up on their mortgages or otherwise suffer a significant loss on the sale of their homes.
The bill would temporarily extend coverage to these groups under the Homeowners Assistance Program (HAP), which normally only applies to members whose home values are depressed by base realignments and closures. The provision would cover servicemembers and federal civilian employees in these categories who purchased a primary residence before July 1, 2006 and who receive PCS orders or suffered a wound, injury, or illness while deployed between that date and September 30, 2012.

 

 

Update October 2009:

 

The Army Corps of Engineers is finally able to process applications. Please review their website for up-to-date information and application package.

 

Seller beware: you have to carry some of your loss, so if you are upside-down on your mortgage you'll still have to bring money to the table!


 

   

 

 

NEWS ARCHIVE

 

December 2008

 

4.5% interest rates?

read

As part of the Housing and Economic Recovery Act of 2008, FHA is changing their downpayment and maximum LTV requirements.

read

 

SEPTEMBER 2008

 

$4 Billion to Be Allocated to Stabilize Neighborhoods and Local Communities

 read

 

JUNE 2008 

 

May Existing-Home Sales Show Modest Gain

 read

 NAR - Home Sales May Rise Modestly before Broader Upturn in Second Half of 2008
read