Has anyone applied for HAP assistance with an original home purchase price of more than the $417K conforming limit?

The original HAP didn't include language like this...and while I think it's fair to not bail out the McMansions, what about those who simply  purchased a more expensive home with some hard earned saved money that just happened to be a bit more, or a lot more than the $417K limit?

It sounds like the government is willing to help those who may lose a few dollars on a cheap home, but not help those who may lose everything and more on even a slightly more expensive home.  Am I reading it wrong?

Perhaps they should set the maximum BENEFIT amount to be $417K -- doesn't that seem more fair?

My husband didn't ask to be transferred either...but staying wasn't an option as his squadron was BRAC affected.   Now  we're having to maintain two residences while he lives at his new location in a rented apartment and I am here trying to sell the house with four kids.  It's been over a year and I'm still sitting...reducing the price to a point where I will lose over $100,000 of my own money that we put down on this house after years of saving.  Surely  I'm not the only one in this position...but I think only another military family can understand what it's like to be left in a city with no family and watching every penny you saved go down the toilet with each price reduction.

I feel your frustration and anger. If you want another forum to seek out information please try

http://moaablogs.org/financial/2009/06/the-homeowners-assistance-program-benefit-could-be-taxable/

Just cut and paste this and it will take you to the MOAA website where we are dealing with the HAPless situation. You will see that you are NOT the only one in this situation at all. People accross the US are dealing with your isse plus the 10% county issue and many more. I thnk it helps to read what others are going through and to how they are reacting. Come join us Texas mom.

Karen

Thank you Karen! I've been visiting that website and this one hoping to hear news about the "new" Final Rule and what changes are in store.

It's been more difficult to hear about my civilian neighbors who have "better than a HAP" available to them. They are being transferred to another base and have no worries about leaving behind a house with a mortgage or being underwater when they sell.

I would have rather my husband been TDY these past six months...at least we would have received some extra pay to help offset the cost of his rent, utilities, and other living expenses.

Someone please announce the new rule soon!