Making Home Affordable Program

What is the Making Home Affordable Program? In an attempt to prevent the destructive impact of the housing crisis on families and communities, the U.S. government has developed the Making Home Affordable program, a comprehensive $75 billion mortgage modification...

Principal Reduction Alternative – PRA

A Principal Reduction Alternative (PRA) helps homeowner’s with a property value has fallen causing them to no longer to qualify for a traditional mortgage. PRA mortgages are part of the Home Affordable Modification Program (HAMP)and were developed to help borrowers...

Making Home Affordable

This section details the guidelines that have been put forth for the various programs under the Making Home Affordable (MHA) Program. These guidelines are applicable to all eligible mortgages not backed by government-sponsored enterprises (GSEs) that are on...

Homeowner Responsibility

The Homeowner Responsibility Amendment In the wake of the recent financial crisis, Senator Chris Dodd, Chairman of the Senate Banking Committee, has been trying to get his financial regulatory reform bill (S. 3217) passed. A roadblock has been created by other...
Hardest Hit Fund

Hardest Hit Fund

Housing Finance Agency “Hardest Hit-Fund” or HHF Programs   If you live in Arizona, California, Florida, Michigan, or Nevada, there is a new government-sponsored program available for foreclosure prevention. The new Innovation Fund for the Hardest-Hit Housing Markets,...