Making Home Affordable

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Making Home Affordable
February 21, 2012 Filed In: financing, news, opportunity
One of my clients will soon be refinancing with their current loan servicer (SunTrust Mortgage) under the HARP program. With the new HARP II guidelines, the first mortgage can be up to 125% of the value of the home. My client will soon be saving $600/month. Curious? Read on.... The Making Home Affordable (MHA) initiative includes programs such as: mortgage modifications interest rate reductions refinancing deferred payment transitioning out of your home while avoiding foreclosure Making Home Affordable options include: Home Affordable Modification Program SM (HAMP^SM) Principal Reduction Alternative SM (PRA) Second Lien Modification Program (2MP) FHA Home Affordable Modification Program (FHA-HAMP) USDA's Special Loan Servicing Veteran's Affairs Home Affordable Modification (VA-HAMP) Home Affordable Foreclosure Alternatives Program (HAFA) Second Lien Modification Program for Federal Housing Administration Loans (FHA-2LP) Home Affordable Modification Program for Rural Development Loans (RD-HAMP) Home Affordable Refinance Program (HARP) FHA Refinance for Borrowers with Negative Equity (FHA Short Refinance) Home Affordable Unemployment Program (UP) Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HHF) An excellent first step is to contact your mortgage servicer and ask what your options are under the Making Home Affordable program. Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address:
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Jun 02, 2012 (unless otherwise noted).
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@cbfunkhouser.com
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