Keep Your Home California State-Run, Federally-Funded Foreclosure Prevention Programs
|
|
- Antony Carson
- 8 years ago
- Views:
Transcription
1 Keep Your Home California State-Run, Federally-Funded Foreclosure Prevention Programs Mortgage Assistance for California Homeowners Webinar October 27, 2015
2 About Keep Your Home California California s Hardest Hit Fund program Federally-funded (US Treasury), state-managed (CalHFA) Fully implemented in February 2011 Goal is to help prevent avoidable foreclosures for eligible low and moderate income homeowners Qualifying homeowners can receive up to $100,000 in mortgage payment assistance in total Five unique programs, all designed to address different aspects of the foreclosure crisis Services are provided free of charge 2
3 General Homeowner Eligibility Requirements Meet low and moderate income limits Complete and sign a Hardship Affidavit must be able to document the reason for hardship Mortgage loan is delinquent or in imminent default Adequate income to sustain mortgage payments after assistance and/or modification is provided, according to program and/or participating servicer guidelines Cannot be in active bankruptcy Servicer participation is required for homeowners to access benefits 3
4 General Property Eligibility Requirements Property must be located in California Property must be owner occupied, primary residence Assistance only available for the first mortgage No Home Equity Lines of Credit or mobile homes that are not real property Current unpaid principal balance of first mortgage cannot exceed $729,750 Reverse Mortgage Assistance Pilot Program limit is $625,500 Property cannot be abandoned, vacant or condemned 4
5 Five Programs Principal Reduction Program $100,000 to reduce the outstanding principal balance Unemployment Mortgage Assistance $3,000 per month, for up to eighteen (18) months Mortgage Reinstatement Assistance Program $54,000 to catch-up past due mortgages Transition Assistance Program $5,000 to help with relocation expenses Reverse Mortgage Assistance Pilot Program $25,000 to reinstate past-due property expenses Homeowners can receive assistance from more than one program, but the maximum combined assistance cannot exceed $100,000 per household 5
6 Principal Reduction Program Assists homeowners who owe more than their home is worth and/or have an unaffordable mortgage payment per program guidelines Benefit assistance up to $100,000 per household Can be used to help homeowners achieve an affordable mortgage payment even if the assistance provided leaves the homeowner with positive equity Loan-to-value ratio must be below 140% after assistance is provided Debt-to-income ratio cannot be below 25% after assistance is provided Loan-to-value ratio greater than 120% qualifies as a hardship indicative of imminent default 6
7 Unemployment Mortgage Assistance Helps eligible homeowners who have experienced involuntary job loss and who are receiving California EDD unemployment benefits or have received California EDD unemployment benefits within prior 30 days Benefit assistance up to $54,000 per household Provides temporary benefit assistance in the form of a mortgage payment subsidy for maximum of 18 months Monthly benefit up to $3,000 or 100% of the first lien mortgage loan PITIA, whichever is less Not eligible if a Notice of Default was filed more than 60 days ago 7
8 Mortgage Reinstatement Assistance Assists eligible homeowners by providing reinstatement assistance to catch-up on the past-due amount of their first lien mortgage loan Benefit assistance up to $54,000 per household Participation is limited to a one-time payment Homeowner must be at least two payments behind at time of application Homeowner must be able to demonstrate that payment is affordable, per guidelines Can follow UMA if homeowner emerges from unemployment hardship but still needs help to pay loan current 8
9 Transition Assistance Program Provides transition assistance benefits to homeowners who can no longer afford their home and avoid foreclosure by agreeing to a short sale or deed-in-lieu of foreclosure Benefit assistance up to $5,000 per household Helps homeowners make a smooth transition to alternative housing Benefit assistance provided directly to homeowners Homeowners who received HAFA funds or assistance from a proprietary program of $5,000 or more are ineligible 9
10 Reverse Mortgage Assistance Pilot Program Provides assistance to qualifying senior homeowners who are in danger of losing their home due to their property expense arrearages associated with their FHA Home Equity Conversion Mortgage (HECM) loan Benefit assistance up to $25,000 per household Reinstates property taxes, homeowner s insurance, and other approved property-related expenses Provides an advance of approved property expenses for up to an additional twelve (12) months to enable the homeowner to recover from their hardship Application process must begin with the servicer 10
11 Program Changes Several program changes since inception Recently approved 17 th amendment to term sheets Changes are a result of analyzing data collected at the call center and direct feedback from partners, servicers, applicants, and others Examples include eliminating restrictions such as cashout, second property, origination date, etc. Servicer participation has grown dramatically 9 servicers participating at launch; over 240 today Represents 95% of the mortgages in California 11
12 Recent Program Changes December 2014 Expanded Unemployment Mortgage Assistance to 18 months February 2015 Launched the Reverse Mortgage Assistance Pilot Program March 2015 Increased the benefit cap for Mortgage Reinstatement Assistance to $54,000 April 2015 Implemented the Affordability utility of the Principal Reduction Program 12
13 How to Apply Call the Keep Your Home California Counseling and Processing Center at KEEP (5337) Hours: Mon Fri 7am 7pm; Sat 9am 3pm; Closed Sun Translation service is available so calls can be taken in virtually any language Contact one of the HUD approved housing counseling agencies certified to conduct Keep Your Home California counseling sessions. 13
14 Application Process Counseling sessions typically take minutes to complete (varies by program) All homeowners listed on the mortgage must apply At the end of the counseling session, a comprehensive packet explaining next steps and the required documentation is sent to the homeowner Homeowners must return all required documents Once documents are received, Keep Your Home California will work with the homeowner s servicer and will make the final determination on approval to fund Median processing time is 48 days (program to date through Q2 2015)
15 Items Homeowner Should Have Available When They Apply Paper and something to write with for notes Mortgage loan number Recent wage or income information Current monthly expenses Explanation of hardship
16 Results 57,000 households have received assistance $1.16 billion in funding provided Additional $106 million scheduled for disbursement Assistance has been provided to homeowners in all 58 counties of California 93% of homeowners still own their homes 24 months after receiving assistance 98% still own after 12 months and 99% still own after 6 months 16
17 Recent Results More than $33 million provided per month for the last twelve (12) months Amount has increased to average over $36 million per month in the last six (6) months Three highest months on record were May, June, and July 2015 (over $38 million each month) Principal Reduction Program accounts for 50% of the current transaction pipeline 17
18 Keep Your Home California s Future California is on track to fully utilize all of its funds before the December 31, 2017 deadline (Hardest Hit Fund sunset date) Current pace would have program funds exhausted by the second quarter of 2017 Anticipate providing assistance to an additional 25,000 struggling homeowners 18
19 Ongoing Need Economic recovery has been uneven across California and affordability remains an issue About 1 of 9 homeowners with a mortgage in California owe more than their home is worth State unemployment rate remains higher than the national average 1.2 million residents are unemployed Some regions of California are still among the hardest-hit areas in the nation 19
20 Conclusion Many homeowners across the state are in need of assistance and are likely candidates for Keep Your Home California Important to continue raising awareness about the programs We need your help! Marketing materials are available on the website Time and funding are running out 20
21 Resources Available on the Website Participating Servicers lists all servicers and shows their participation level by program Eligibility Calculator answer 12 Yes or No questions to see which programs may be an option for you Household Income Limits varies by county Calendar of Events list of upcoming foreclosure prevention events throughout California Success Stories homeowners who received assistance Reports and Statistics interactive map of CA (shows assistance by county), charts and graphs, and all quarterly reports provided to US Treasury Frequently Asked Questions News and Media videos, press releases, news stories, blogs and other updates
22 For more information, please visit Or call KEEP (5337) Follow us on: Thank You! 22
Attached please find the current update on KYHC activity. This report is based on our latest quarterly data, which ended December 31, 2014.
State of California M E M O R A N D U M To: CalHFA Board of Directors Date: March 11, 2015 From: Di Richardson, Director of Legislation CALIFORNIA HOUSING FINANCE AGENCY Subject: Keep Your Home California
More informationUnemployment Mortgage Assistance
1. Program Overview The Unemployment Mortgage Program ( UMA ) is one of CalHFA MAC s federally-funded programs developed to provide temporary financial assistance to eligible California homeowners who
More informationTHIRD AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
THIRD AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Third Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the Third
More informationPrincipal Reduction Program
1. Overview The Principal Reduction ( PRP ) is one of CalHFA MAC s federally-funded programs developed with a goal to provide capital to homeowners who have suffered an eligible hardship in order to reduce
More informationPrincipal Reduction Program
1. Overview The Principal Reduction ( PRP ) is one of CalHFA MAC s federally-funded programs developed with a goal to provide capital to homeowners that have suffered a hardship to reduce the outstanding
More informationHARDEST HIT FUND. Fourth Quarter 2014 Performance Summary
HARDEST HIT FUND Fourth Quarter 2014 Performance Summary HARDEST HIT FUND QUARTERLY PERFORMANCE SUMMARY Background and Glossary of Terms The Hardest Hit Fund (HHF) provides $7.6 billion to 18 states and
More informationFrequently Asked Questions
Frequently Asked Questions 1) What is Florida HFA Hardest-Hit Fund (HHF)? (Florida Housing) was directed by US Treasury (Treasury) to create and administer foreclosure prevention assistance programs that
More informationTWENTIETH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
TWENTIETH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Twentieth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement
More informationHome Affordable Modification Program (HAMP )
Home Affordable Modification Program (HAMP ) Training for Trusted Advisors April 2015 Making Home Affordable Objectives 1 2 3 4 5 6 Step 1 Step 2 Step 3 Step 4 Step 5 7 8 MHA Program Highlights HAMP Overview
More informationSIXTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT. Recitals
SIXTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Sixth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the Sixth
More informationThe key components of the Making Home Affordable Program are:
REVISED AS OF JULY 13, 2009 HOUSING COUNSELOR FREQUENTLY ASKED QUESTIONS 1. What is the Making Home Affordable (MHA) Program? The Making Home Affordable Program is part of the Obama Administration s broad,
More informationHomeowners are NOT eligible if: The loan is a land contract transaction or privately held mortgage A Foreclosure Sale has already been completed
Frequently Asked Questions 1. What is the Michigan s Hardest Hit Funds program? It is a federally funded loan program designed to help eligible homeowners who are struggling to make their mortgage payments.
More informationFrequently Asked Questions Updated 03/2015
Frequently Asked Questions Updated 03/2015 1. What is Florida HFA Hardest-Hit Fund (HHF)? 2. What programs are available? 3. How much assistance is available to me? 4. What are the terms of the assistance?
More informationFrequently Asked Questions
Frequently Asked Questions 1. What is the Michigan Hardest Hit Fund program? Michigan s Hardest Hit Fund program, also known as, is a federally funded loan program designed to help eligible homeowners
More informationMaking Home Affordable. Understanding the Terms of a HAMP Modification: Interest Rate Increase, Impact, and Resources
Making Home Affordable Understanding the Terms of a HAMP Modification: Interest Rate Increase, Impact, and Resources Agenda 1 HAMP Overview 2 HAMP Interest Rate Increase 3 Impact to Homeowners 4 Resources
More information2013 Annual Awards Entry Form (Complete one for each entry.)
2013 Annual Awards Entry Form (Complete one for each entry.) Entry Name Keeping People in Their Homes - A Foreclosure Prevention Success Story HFA Illinois Housing Development Authority (IHDA) Submission
More informationForeclosure Prevention Programs in Lucas County
December 2014 Foreclosure Prevention Programs in Lucas County Analysis of Applications and Outcomes by Zip Code for Potential Racial Disparities Toledo Fair Housing Center TABLE OF CONTENTS Introduction..2
More informationQ. Under what circumstances wil my loan be cal ed due and payable? Q. What happens if one of the above occurs and my loan is cal ed due and payable?
Financial Freedom, as servicer for your Home Equity Conversion Mortgage ( HECM or loan ), is required by the U.S. Department of Housing and Urban Development ( HUD ) to perform certain actions depending
More informationHardest Hit Fund Overview
Hardest Hit Fund Overview for Trusted Advisors The Hardest Hit Fund 2 History of the Hardest Hit Fund The Hardest Hit Fund provides $7.6 billion to 18 states and the District of Columbia to provide assistance
More informationFIRST AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
FIRST AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This First Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the First
More informationMaking Home Affordable. Understanding the Terms of a HAMP Modification: Interest Rate Step-Up, Impact, and Resources
Making Home Affordable Understanding the Terms of a HAMP Modification: Interest Rate Step-Up, Impact, and Resources Agenda 1 HAMP Overview 2 HAMP Interest Rate Step-Up 3 Impact to Homeowners 4 Resources
More informationHardest Hit Fund Overview
Hardest Hit Fund Overview for Trusted Advisors The Hardest Hit Fund 2 History of the Hardest Hit Fund The Hardest Hit Fund provides $7.6 billion to 18 states and the District of Columbia to provide assistance
More informationFIFTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
FIFTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Fifth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the Fifth
More informationFrequently Asked Questions
Frequently Asked Questions On March 26, 2010, the Administration announced several enhancements to the existing Making Home Affordable Program (MHA) and the Federal Housing Administration (FHA) refinance
More informationHow To Help A Struggling Home Owner
EIGHTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Eighth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the
More informationNCSHA 2015 Annual Awards Entry Form (Complete one form for each entry)
NCSHA 2015 Annual Awards Entry Form (Complete one form for each entry) Deadline: Wednesday, June 10, 2015 Visit ncsha.org/awards to view the Annual Awards Call for Entries. Instructions: Type entry information
More informationHardest Hit Fund Overview. October 2014 Making Home Affordable
Hardest Hit Fund Overview for Trusted Advisors History of the Hardest Hit Fund The Hardest Hit Fund provides $7.6 billion to 18 states and the State District of Columbia to provide assistance to struggling
More informationSupport Under the Homeowner Affordability and Stability Plan: Three Cases
Support Under the Homeowner Affordability and Stability Plan: Three Cases Family A: Access to Refinancing In 2006: Family A took a 30-year fixed rate mortgage of $207,000 on a house worth $260,000 at the
More informationMortgage Assistance for Florida Homeowners
Mortgage Assistance for Florida Homeowners Presented by: David Westcott Director of Homeownership Programs Florida Housing Finance Corporation Florida HFA Hardest-Hit Fund (HHF) Federal government s Housing
More informationTHIRD AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
THIRD AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Third Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the Third
More informationFREQUENTLY ASKED QUESTIONS
Para la versión en español, clic aquí. FREQUENTLY ASKED QUESTIONS Please click on one of the following links below to go to the section of the application process you are in. Can I sell my house or re-finance
More informationFebruary 1, 2011. RE: Participation in the Hardest-Hit Fund Program in Georgia
February 1, 2011 RE: Participation in the Hardest-Hit Fund Program in Georgia The United States Department of Treasury (Treasury) established the Hardest Hit Fund (HHF) Program in February 2010 to provide
More informationProject Summary. St. Louis Alliance for Home Ownership Preservation
Project Summary St. Louis Alliance for Home Ownership Preservation In early 2008, Mayor Slay became concerned about the growing number of foreclosures foreclosures can hurt not only individual homeowners
More informationWEBINAR TO BEGIN MOMENTARILY WWW.CONNECTMEETING.ATT.COM MEETING AND CONFERENCE CALL NUMBER: 877-873-8017 ACCESS CODE: 7247889
WEBINAR TO BEGIN MOMENTARILY WWW.CONNECTMEETING.ATT.COM MEETING AND CONFERENCE CALL NUMBER: 877-873-8017 ACCESS CODE: 7247889 STEP FORWARD MICHIGAN JANUARY 2013 HISTORICAL SUMMARY 3 2010 - U.S. Department
More informationMaking Home Affordable Updated Detailed Program Description
Making Home Affordable Updated Detailed Program Description The deep contraction in the economy and in the housing market has created devastating consequences for homeowners and communities throughout
More informationHAMP vs. HARP vs. HAFA
HAMP vs. HARP vs. HAFA Over the last four years, the government has made a few sizable efforts to reduce the rising tide of foreclosures and help a significant number of homeowners stay in their homes.
More informationFOURTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
FOURTH AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Fourth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the
More informationMaking Home Affordable
Making Home Affordable Overview of Programs What to Expect Overview of MHA Programs This presentation will: Provide an overview of Making Home Affordable (MHA) and its various components. Show you how
More informationThis notice provides guidance on the federal tax consequences of, and
Part III - Administrative, Procedural, and Miscellaneous TAX CONSEQUENCES TO HOMEOWNERS, MORTGAGE SERVICERS, AND STATE HOUSING FINANCE AGENCIES OF PARTICIPATION IN THE HFA HARDEST HIT FUND AND THE EMERGENCY
More informationGuide. Completing the Mortgage Assistance Application
Guide Completing the Mortgage Assistance Application Getting Started PNC Mortgage Assistance Application Early communication with PNC is very important to ensure your assistance options are not limited.
More information//signed// Gerald R. Kirkland Regional Inspector General for Audit, Fort Worth Region, 6AGA
U.S. Department of Housing and Urban Development Office of Inspector General, Region VI 819 Taylor Street, Suite 13A09 Fort Worth, Texas 76102 (817) 978-9309 FAX (817) 978-9316 http://www.hud.gov/offices/oig/
More informationBilling Code 4210-67 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. [Docket No. FR-5470-N-02]
This notice will be published in the. The effective date of the notice will be established by the notice published in the. Billing Code 4210-67 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5470-N-02]
More informationTHIS IS YOUR HOME. WE WANT TO HELP YOU SAVE IT. INDIANA S HARDEST HIT FUND INDIANA FORECLOSURE PREVENTION NETWORK
THIS IS YOUR HOME. WE WANT TO HELP YOU SAVE IT. Indiana Foreclosure Prevention Network (IFPN) IFPN is a public-private partnership administered by the Indiana Housing and Community Development Authority
More informationParticipation in the Hardest-Hit Fund Program in Georgia
Participation in the Hardest-Hit Fund Program in Georgia Dear Servicer: The United States Department of Treasury (Treasury) established the Hardest Hit Fund (HHF) Program in February 2010 to provide targeted
More informationRe: Quarterly Performance Data Report to U.S. Treasury, for period ending March 31, 2015
May 15, 2015 To: Mark McArdle, U.S. Treasury From: Di Richardson, President CalHFA MAC Re: Quarterly Performance Data Report to U.S. Treasury, for period ending March 31, 2015 Attached please find a copy
More informationMaking Home Affordable
Making Home Affordable Working Together to Help Homeowners The Crisis Continues Foreclosures continue to devastate families and communities across the country. 2 Response to the Crisis MHA is part of Administration
More informationHow To Modify A First Lien Mortgage
Making Home Affordable Program and Home Affordable Modification Program Frequently Asked Questions for Bankruptcy Filers Q1. What do these FAQs cover? These FAQs provide information on the Home Affordable
More informationWhat are the HHF program eligibility criteria?
FREQUENTLY ASKED QUESTIONS What is the Hardest Hit Fund Program (HHF)? What are the HHF program eligibility criteria? What property types are eligible for HHF assistance? I or my spouse is in the U.S.
More informationGLOSSARY COMMONLY USED REAL ESTATE TERMS
GLOSSARY COMMONLY USED REAL ESTATE TERMS Adjustable-Rate Mortgage (ARM): a mortgage loan with an interest rate that is subject to change and is not fixed at the same level for the life of the loan. These
More informationThe Making Home Affordable Program Offers Options for Homeowners in Bankruptcy
The Making Home Affordable Program Offers Options for Homeowners in Bankruptcy By Doreen Solomon, Assistant Director, Office of Oversight, Executive Office for U.S. Trustees, and Erin Sagransky, Policy
More informationNo. Eligible borrowers will only be able to claim one payment from the fund.
Settlement Q&A for Consumers 1. CASH PAYMENTS TO CONSUMERS Will there be any money available to pay consumers? Yes. The court s judgment establishes a states fund of $1.5 billion nationally to pay borrowers
More informationCity and County of San Francisco. Controller s Office Assisting Homeowners with Troubled Mortgages. February 05, 2015 Resolution #140709
Controller s Office Assisting Homeowners with Troubled Mortgages February 05, 2015 Resolution #140709 1 Executive Summary: Background On October 28 th, 2014, the Board of Supervisors issued a resolution
More informationIntroduction. Lenders, Investors, and Servicers
Introduction The Making Home Affordable Program was announced by the U.S. Department of the Treasury in February 2009 in an effort to help stabilize the housing market and provide relief for struggling
More informationWells Fargo Home Affordable Foreclosure Alternatives (HAFA) Matrix
Wells Fargo Home Affordable Foreclosure Alternatives (HAFA) Matrix All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification
More informationAbout Northwest Counseling Service
About Northwest Counseling Service Non Profit Agency No Cost Housing Counseling Services Any Service Related To A Home Specialize In Mortgage Delinquency 96% Rate In Keeping Residents In Homes HUD Certified/OHCD
More informationHOME PRESERVATION BASICS
HOME PRESERVATION BASICS - Know what to do and when to do it The current economic crisis has greatly affected the housing industry, and our local community is no exception. This has forced different households
More informationGeneral Program Questions
General Program Questions What is Save the Dream Ohio (Ohio s Hardest-Hit Fund)? The Housing Finance Agency Innovation Fund for the Hardest-Hit Housing Markets gave 18 states including Ohio, via Save the
More informationNorth Carolina Housing Finance Agency Fund Overview
North Carolina Housing Finance Agency Fund Overview Since the implementation in 2010 Assisted 19,872 N.C. Homeowners Receive an average of 400 applications per month Mortgage Payment Program (MPP) pays
More informationMaking Home Affordable Working Together to Help Homeowners
Making Home Affordable Working Together to Help Homeowners The Crisis Continues Foreclosures continue to devastate families and communities across the country. Source: RealtyTrac 2 MHA Programs Offer Help
More informationHAFA Servicer Training 1
Home Affordable Foreclosure Alternatives (HAFA) Training for Servicers Agenda HAFA Eligibility Criteria HAFA Policy HAFA Documentation Protections Against Unnecessary Foreclosure Resources What Is HAFA?
More informationSpotlight on the Housing Market in the Orlando-Kissimmee-Sanford, FL MSA
Spotlight on in Orlando-Kissimmee-Sanford, FL MSA The Orlando-Kissimmee-Sanford, FL Metropolitan Statistical Area (Orlando MSA) is located in central Florida and includes four counties: Lake, Orange, Osceola,
More informationTable of Contents Reverse Mortgage O verview... Reverse Mortgage K ey Questions... 5 Reverse Mortgage Pros and Cons... 7 Reverse Mortgage Borr
1 Table of Contents Reverse Mortgage Overview... Reverse Mortgage Key Questions... Reverse Mortgage Pros and Cons... Reverse Mortgage Borrower Qualification... Reverse Mortgage Key Items... Reverse Mortgage
More informationCentral Mortgage Company
Central Mortgage Company Dear Borrower Are you struggling with your mortgage payment? We are concerned about your missed or potentially missed mortgage payment and want you to be aware of assistance available
More informationEligibility and Assistance for Military Personnel
Eligibility and Assistance for Military Personnel N.C. Foreclosure Prevention Fund: Purpose To help homeowners recovering from unemployment or other hardships and veterans transitioning to civilian employment
More informationSummary of the Obama Administration s MAKING HOME AFFORDABLE PROGRAM
Summary of the Obama Administration s MAKING HOME AFFORDABLE PROGRAM Prepared By: Empire Justice Center Kevin Purcell and Salah Maker The Telesca Center for Justice One West Main Street, Suite 200 Rochester,
More informationMaking Home Affordable Program Performance Report Second Quarter 2015
Making Home Affordable PROGRAM PERFORMANCE REPORT THROUGH THE SECOND QUARTER OF 2015 MHA AT-A-GLANCE More than 2.4 Million Homeowner Assistance Actions have taken place under Making Home Affordable (MHA)
More informationApril 23, 2015 Mortgagee Letter 2015-11. All FHA Reverse Mortgage Loan Servicers
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER April 23, 2015 Mortgagee Letter 2015-11 To All FHA Reverse Mortgage
More informationOPTIONS IN FORECLOSURE
Section II: KEEPING YOUR HOME OPTIONS IN FORECLOSURE Deciding whether or not to keep your home is something that only you, the homeowner, can determine. The best housing counselors will ask what you d
More informationUpdated March 2013 WHY SHOULD A BORROWER CONSIDER A HAFA SHORT SALE? ELIGIBILITY REQUIREMENTS
CCO Mortgage, a Division of RBS Citizens NA Home Affordable Foreclosure Alternative (HAFA) Matrix All servicers that signed agreements with the U.S. Department of the Treasury (Treasury) to participate
More informationMORTGAGE RESCUE: HomeOwnership Center Assistance. A Program of St. Mary Development Corporation
MORTGAGE RESCUE: HomeOwnership Center Assistance A Program of St. Mary Development Corporation St. Mary Development Corporation Non-profit organization Community development and neighborhood revitalization
More informationCOMPREHENSIVE LOAN MODIFICATION PROGRAM
I. Definitions. COMPREHENSIVE LOAN MODIFICATION PROGRAM a) Residential mortgage loan shall mean any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or
More informationBank of America Home Affordable Foreclosure Alternative (HAFA) Matrix
Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix If you do not qualify for the Home Affordable Modification Program (HAMP) or other modification programs that we offer, you will be
More informationSave the Dream Ohio and Ohio Housing Finance Agency. and OHFA Homeownership Programs. Ohio Award: $570.4 Million to prevent foreclosure
Save the Dream Ohio and Ohio Housing Finance Agency Homeownership Programs Ohio s Foreclosure Prevention Effort and OHFA Homeownership Programs Presentation to Ohio Benefits Bank Conference September 17,
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners August 2013 U.S. Department of Housing and Urban Development Office of Policy Development Research U.S Department
More informationExhibit A. Unemployment Mortgage Assistance Program (UMAP)
History Exhibit A In January 2010, US Treasury (Treasury) created the Housing Finance Agency (HFA) Innovation Fund for the Hardest-Hit Housing Markets (HFA Hardest-Hit Fund) and allocated funds under the
More informationMaking Home Affordable Program Performance Report Third Quarter 2014
Making Home Affordable Program Performance Report Third Quarter 2014 PROGRAM PERFORMANCE REPORT THROUGH THE THIRD QUARTER OF 2014 MHA AT-A-GLANCE More than 2.2 Million Homeowner Assistance Actions have
More informationSECOND AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT
SECOND AMENDMENT TO COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT and HFA PARTICIPATION AGREEMENT This Second Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement (the
More informationThe Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners March 2015 U.S. Department of Housing and Urban Development Office of Policy Development and Research U.S
More informationHousing Finance Agency Innovation Fund for the Hardest-Hit Housing Markets ( HFA Hardest-Hit Fund ) Frequently Asked Questions.
Housing Finance Agency Innovation Fund for the Hardest-Hit Housing Markets ( HFA Hardest-Hit Fund ) Frequently Asked Questions March 5, 2010 On February 19, 2010, President Obama announced $1.5 billion
More informationFrequently Asked Questions
Frequently Asked Questions 1) What is Florida HFA Hardest-Hit Fund (HHF)? Florida Housing Finance Corporation (Florida Housing) was directed by US Treasury (Treasury) to create and administer foreclosure
More informationTroubled Asset Relief Program: Status of Housing Programs
January 8, 2016 Congressional Committees Troubled Asset Relief Program: Status of Housing Programs The Emergency Economic Stabilization Act of 2008 (EESA) initially authorized $700 billion to assist financial
More informationMaking Home Affordable. The Second Lien Modification Program (2MP) for Trusted Advisors
Making Home Affordable The Second Lien Modification Program (2MP) for Trusted Advisors Agenda 1 2 3 4 5 6 7 8 9 10 11 12 Overview Eligibility Lien Matching Process Evaluation 2MP Modification Waterfall
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners July 2014 U.S. Department of Housing and Urban Development Office of Policy Development and Research U.S
More informationHelp for Hardest Hit Programs (H4HH)
Help for Hardest Hit Programs (H4HH) Federal Help for Homeowners February 19, 2010, President Obama announced $1.5 billion in funding for innovative measures to assist families in states hardest hit by
More informationTo see if you qualify for this program, send the items listed below to Northwest Savings Bank.
COMPLETE YOUR CHECKLIST We need this information to help you modify your mortgage payment. To see if you qualify for this program, send the items listed below to Northwest Savings Bank. 1. The enclosed
More informationHome Affordable Foreclosure Alternatives (HAFA)
Home Affordable Foreclosure Alternatives (HAFA) Training for Trusted Advisors Agenda 1 2 3 4 5 6 7 Overview HAFA Eligibility Criteria HAFA Policy HAFA Documentation Protections Against Unnecessary Foreclosure
More informationHomeownership Division
Michigan Credit Union League & Affiliates Annual Convention and Exposition Helping Credit Unions Serve, Grow and Remain Strong #mculace MSHDA s Homeownership Programs Delivering the Dream to Michigan Families
More informationBank of America Home Affordable Foreclosure Alternative (HAFA) Matrix
Bank of America Home Affordable Foreclosure Alternative (HAFA) Matrix If you do not qualify for the Home Affordable Modification Program (HAMP) or other modification programs that we offer, you will be
More informationThe Emergency Program to Reduce Home Foreclosures
The Emergency Program to Reduce Home Foreclosures Report to the General Assembly May 2011 Executive Summary The Emergency Program to Reduce Home Foreclosures Act (the Act ), 1 requires the North Carolina
More informationELMORE. (Elderly Mortgage Assistance Program) 2015 NCSHA Conference Presentation September 29, 2015
ELMORE (Elderly Mortgage Assistance Program) 2015 NCSHA Conference Presentation September 29, 2015 Introduction Floridians were significantly impacted by the Great Recession ; our housing market dropped
More informationReverse Mortgage Presented by Ian MacGillivray, NMLS #638502 American Capital Corporation, NMLS #264422 Phone: 505-690-1089 Website:
Reverse Mortgage American Capital Corporation, Phone: 505-690-1089 Website: http://mortgagepartners-santafe.com Contents I. What Is a Reverse Mortgage? II. Benefits and Typical Uses III. Is the Home at
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners June 2013 U.S. Department of Housing and Urban Development Office of Policy Development Research U.S Department
More informationQuestions and Answers for Borrowers about the. Homeowner Affordability and Stability Plan
Questions and Answers for Borrowers about the Homeowner Affordability and Stability Plan Borrowers Who Are Current on Their Mortgage Are Asking: 1. What help is available for borrowers who stay current
More informationForeclosure Options. Know Your Rights! Your Trusted Real Estate Resource
Foreclosure Options Know Your Rights! Kirk Russell Managing Broker John L. Scott Firm Kirkrussell@johnlscott.com 206.390.5640 Your Trusted Real Estate Resource If you re listed with a license Realtor,
More informationMortgage & Home Equity Reporting Guidelines In Response to Current Financial Conditions
Mortgage & Home Equity Reporting Guidelines In Response to Current Financial Conditions General Reporting Guidelines Report accounts in the standard Metro 2 Format. Refer to the Credit Reporting Resource
More informationCitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix
CitiMortgage Home Affordable Foreclosure Alternative (HAFA) Matrix All servicers that have signed agreements with the U.S. Department of the Treasury (Treasury) to participate in the Home Affordable Modification
More informationWBA Overview of New Homebuyer Credit and Recent Government Loan Programs. First-Time Home Buyer Tax Credit
WBA Overview of New Homebuyer Credit and Recent Government Loan Programs First-Time Home Buyer Tax Credit Additional Resources: www.federalhousingtaxcredit.com/2009 http://www.irs.gov/newsroom/article/0,,id=202222,00.html
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners July 2013 U.S. Department of Housing and Urban Development Office of Policy Development Research U.S Department
More informationRedefault Rates Improve for Recent Loan Modifications
Redefault Rates Improve for Recent Loan Modifications State Foreclosure Prevention Working Group Memorandum on Loan Modification Performance August 2010 Introduction and Summary of Key Findings For over
More informationDRAFT. FHA PowerSaver FHA SINGLE FAMILY HOUSING HOME IMPROVEMENT LOAN PILOT PROGRAM
DRAFT FHA PowerSaver FHA SINGLE FAMILY HOUSING HOME IMPROVEMENT LOAN PILOT PROGRAM 1 HOME ENERGY IMPROVEMENTS The need for affordable financing Helping homeowners make money-saving home energy improvements
More information