The Transition Assistance Program is for homeowners who are undergoing a short sale or deed in lieu of a foreclosure program. This type of program is a benefit for those seeking financial help while in the process of relocating to more affordable housing.

By applying to the TAP it is possible for the eligible homeowner to receive a sum of up to $5,000 which is available on a one-time basis, and intended to cover the cost of security deposits, moving expenses and rent.

TAP is applicable to the homeowner that has been involved in a short sale and it has been established that they are no longer in a position to afford their home.

It is used in combination with a deed-in lieu and short sale program to increase the ability to achieve a smooth transition in the process of being relocated.

The eligibility criteria for the borrower and eligibility criteria for the home are quite similar to the other types of federally funded programs for the homeowner experiencing a significant downturn in their finances.