Avoiding Foreclosure/U. S. Department of Housing and Urban Development (HUD)Avoiding Foreclosure. The Obama Administration has implemented a number of programs to assist homeowners who are at risk of foreclosure and otherwise struggling with their monthly mortgage payments. The majority of these programs are administered through the U. S. Treasury Department and HUD. This page provides a summary of these various programs. Please continue reading in order to determine which program can best assist you. Please read FHA's brochure, . And for those homeowners for whom homeownership is no longer affordable or desirable, the program can provide a way out which avoids foreclosure. Additionally, in an effort to be responsive to the needs of today's homeowners, there are also options for unemployed homeowners and homeowners who owe more than their homes are worth. Mortgage Sales Training Program. Details: Come Home to Paramount Equity! Are you interested in career that offers six-figure earning potential? Do you want to be part of an organization that provides our c. Paramount Equity Mortgage, LLC is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4170047; Arizona Mortgage Banker License #0922160, NMLS# 30336; regulated by. Second Lien Modification Program (2MP): If your first mortgage was permanently modified under HAMP SM and you have a second mortgage on the same property. Find and compare Mortgage and Loans software. Free, interactive tool to quickly narrow your choices and contact multiple vendors. Mortgage Loan Delinquencies. FHA, Home Affordable Refinance Program and Short Sales-the Latest Mortgage Fraud Schemes. An industry leader in mortgage services, we have the expertise to meet your mortgage business challenges in delivering mortgage solutions to your customers. To learn more about the HAFA Program and the program rules and process that CitiMortgage follows. Please read the following program summaries to determine which program options may be best suited for your particular circumstances. Modify or Refinance Your Loan for Lower Payments. Home Affordable Modification Program (HAMP): HAMP lowers your monthly mortgage payment to 3. The typical HAMP modification results in a 4. Eighteen percent of HAMP homeowners reduce their payments by $1,0. Click Here for more information. Principal Reduction Alternative (PRA): PRA was designed to help homeowners whose homes are worth significantly less than they owe by encouraging servicers and investors to reduce the amount you owe on your home. Click Here for more information. Likewise, If you have a home equity loan, HELOC, or some other second lien that is making it difficult for you to keep up with your mortgage payments, learn more about this MHA program. Click Here for more information. Home Affordable Refinance Program (HARP): If you are current on your mortgage and have been unable to obtain a traditional refinance because the value of your home has declined, you may be eligible to refinance through HARP. HARP is designed to help you refinance into a new affordable, more stable mortgage. Click Here for more information.“Underwater” Mortgages. In today's housing market, many homeowners have experienced a decrease in their home's value. Learn about these MHA programs to address this concern for homeowners. Home Affordable Refinance Program (HARP): If you are current on your mortgage and have been unable to obtain a traditional refinance because the value of your home has declined, you may be eligible to refinance through HARP. HARP is designed to help you refinance into a new affordable, more stable mortgage. Click Here for more information. Principal Reduction Alternative: PRA was designed to help homeowners whose homes are worth significantly less than they owe by encouraging servicers and investors to reduce the amount you owe on your home. Click Here for more information. If the servicer of your second mortgage agrees to participate, the total amount of your mortgage debt after the refinance cannot exceed 1. Click Here for more information. Assistance for Unemployed Homeowners. Home Affordable Unemployment Program (UP): If you are having a tough time making your mortgage payments because you are unemployed, you may be eligible for UP. UP provides a temporary reduction or suspension of mortgage payments for at least twelve months while you seek re- employment. Click Here for more information. Emergency Homeowners’ Loan Program (EHLP): Click Here for more information about EHLP assistance provided in your state. FHA Special Forbearance: If you are having difficulty making mortgage payments because you are unemployed and have no other sources of income, you may be eligible for FHA's Special Forbearance. Click Here for more information. Managed Exit for Borrowers. Home Affordable Foreclosure Alternatives (HAFA): If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed- in- lieu of foreclosure through HAFA SM. Click Here for more information.“Redemption”is a period after your home has already been sold at a foreclosure sale when you can still reclaim your home. You will need to pay the outstanding mortgage balance and all costs incurred during the foreclosure process. Contact Your Lender. If you are experiencing difficulties making your mortgage payments, you are encouraged to contact your lender or loan servicer directly to inquire about foreclosure prevention options that are available. If you are experiencing difficulty communicating with your mortgage lender or servicer about your need for mortgage relief, there are organizations that can help by contacting lenders and servicers on your behalf. Department of Housing and Urban Development (HUD), is working aggressively to halt and reverse the losses represented by foreclosure. Through its National Servicing Center (NSC), FHA offers a number of various loss mitigation programs and informational resources to assist FHA- insured homeowners and home equity conversion mortgage (HECM) borrowers facing financial hardship or unemployment and whose mortgage is either in default or at risk of default. Click Here to log onto the NSC Loss Mitigation Programs home page. Click Here for answers to Frequently Asked Questions about FHA’s loss mitigation programs. Contact FHAFHA staff are available to help answer your questions and assist you to better understand your options as an FHA borrower under these loss mitigation programs. There are several ways you can contact FHA for more information, including: Call the National Servicing Center at (8. Call the FHA Outreach Center at (8. CALL FHA (8. 00- 2. Persons with hearing or speech impairments may access this number via TTY by calling the Federal Information Relay Service at (8. Email the FHA Resource Center. The Online FHA Resource Center.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
October 2016
Categories |