HAMP AND OTHER BORROWER ASSISTANCE PROGRAMS EXTENDED!

The Making Home Affordable Program (MHA) for non-Fannie Mae and Freddie Mac mortgage loans has been extended through December 31, 2015. It is the second extension of the foreclosure prevention program, which was currently set to expire on December 31, 2013. The Federal Housing Finance Agency (FHFA) announced that it will also extend the Home Affordable Modification Program (HAMP) for loans under Fannie and Freddie through the end of 2015. The FHFA will also extend their new foreclosure prevention streamlined modification program to December 31, 2015. The streamlined program offers loan modifications without documentation of financial hardship.

HAMP is a foreclosure prevention program that provides loan modifications to struggling homeowners, which also includes Home Affordable Foreclosure Alternatives (HAFA) and a Second Lien Modification Program. The government's refinance program, Home Affordable Refinance Program (HARP), had previously been extended through December 31, 2015.

If you need help with your loan modification process, call Wendy Anderson for assistance!