HAMP Program Extended

On June 5, 2013, in Foreclosure, by Robbie L. Vaughn, Esq.

HAMP Modification Program

HAMP Loan Modifications will continue to be available to homeowners “through December 31, 2015.” The original program deadline was December 31, 2013.

“The U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development today announced an extension of the Obama Administration’s Making Home Affordable Program through December 31, 2015. The new deadline was determined in coordination with the Federal Housing Finance Agency (FHFA) to align with extended deadlines for the Home Affordable Refinance Program (HARP) and the Streamlined Modification Initiative for homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac.”

Read the cited Press Release here.

Long Island Foreclosure Defense Attorneys

The Law Firm of Vaughn, Weber & Prakope, PLLC, can be reached at (516) 858-2620.

 

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Home Affordable Refinance Program (HARP) changes

On October 25, 2011, in Foreclosure, Message/News Board, by Robbie L. Vaughn, Esq.

Home Affordable Refinance Program

The Federal Housing Finance Agency has announced a series of changes to the Home Affordable Refinance Program (HARP). This is an effort to help some borrowers refinance their underwater home mortgage.

Borrower Eligibility:

  • The existing mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009. Homeowners can determine if they have a Fannie Mae or Freddie Mac loan by going to: http://www.FannieMae.com/loanlookup/ or calling 800-7FANNIE (8 am to 8 pm ET) https://ww3.FreddieMac.com/corporate/or 800-FREDDIE (8 am to 8 pm ET)
  •  The program will continue to be available for loans with LTVs above 80 percent.
  • Borrowers must be current on their mortgage payments with no late payment in the past six months and no more than one late payment in the past 12 months.
  •  Borrowers should contact their existing lender or any other mortgage lender offering HARP refinances.

Read more here.

For assistance with HARP questions, call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620.

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