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HAP Funding
Last Post 10-20-2011 03:08 PM by . 4 Replies.
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Subsailor
Posts:658

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10-12-2011 02:15 PM QuoteQuote ReplyReply  

I currently am waiting to close.  Everything has been approved up to this point.  But, now there is no funding.  Is anyone else having this problem?  Any ideas to get the process moving?

Denise Korpinen
Posts:658

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10-13-2011 01:52 PM QuoteQuote ReplyReply  
You are correct- in order to issue any more payments there is FY2012 funding needed. What most people don't know is that when Congress passes a "continuing resolution" instead of a new budget- all kinds of new things come into play affecting programs. Sometimes good, but usually bad.

My understanding is that last week some monies came in, but had to be used for Wounded Warrior and Surviving Spouse closings. They have priority. I have 5 PCS clients in your same position. Some of whom have been trying to get closed for a year and were stuck for lack of enough benefits processors to handle volume out of Sacramento. Now everything is moved to Savannah and ready to go, just need HAP to have funds credited through Treasury to issue the checks. Hoping for any time...
Subsailor
Posts:658

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10-13-2011 06:07 PM QuoteQuote ReplyReply  
Subsailor
Posts:658

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10-13-2011 06:07 PM QuoteQuote ReplyReply  
Now that we are having to move the closing to the right indefinitely, my buyer is asking that I pay $300 a month to extend her interest rate on her mortgage.

Does this sound kosher? I really can't afford to lose the buyer. But, we are both getting stood deal out of the sale?

I really hope funding just comes through soon.
Subsailor
Posts:658

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10-20-2011 03:08 PM QuoteQuote ReplyReply  
Just a heads up: funding has come through. Closing in 45 days or less.

We shall see.


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