President Obama's Home Affordibility Program (HAMP)
- JGibbs
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Replied by JGibbs on topic Future of HAMP scheme?
There are two programs - HARP and HAMP. One is a refi and the other is loan modification. Both are equally confusing to me. HARP has been extended to December 31, 2018 from what I can tell.Wanderer wrote: Believe the program is called (HARP) Home Affordable Refinance Program.
HARP Eligibility: (Note HARP ends September 30, 2017)
Joker, if I had questions I'd go down to my local HUD office. Surely someone there can at least direct your daughter to the right place. I wish our officials made things easier to follow.
7 years 4 months ago
#1
- Joker
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Replied by Joker on topic Are there programs for home ownership as well as refinance opportunities?
I have scoured the web in order to find out if my daughter can qualify for a program that would help her get into a home of her own. She opted not to go to college and had a baby instead. (Woe is me) Now she is in a dead end job desperately trying to keep a roof over her head. I know that there is first time home buyer discounts, and down payment assistance but is that the extent of the program?
7 years 4 months ago
#2
- FrankN
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Replied by FrankN on topic Future of HAMP scheme?
There is a max loan amount on this though right?
7 years 10 months ago
#3
- Wanderer
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Replied by Wanderer on topic Future of HAMP scheme?
Believe the program is called (HARP) Home Affordable Refinance Program. Use a search engine and you will find several options (lenders) who will provide their version of the program. Quicken Loans have been running commercials on this very program on TV. Did a search and there are other providers too. Search engines are your friend.
HARP Eligibility: (Note HARP ends September 30, 2017)
If your loan meets these criteria, you could be eligible for HARP (according to Quicken Loans):
Your loan must be owned or backed by Fannie Mae or Freddie Mac
Your loan must have closed on or before May 31, 2009
You must have a good history of keeping up with your mortgage payments
What’s the minimum credit score for refinancing with HARP? Homeowners with credit scores as low as 580 can refinance with HARP.
Then you will want to talk with lenders to see how your loan compares. Ads have said they may not be an appraisal (not in all situations).
HARP Eligibility: (Note HARP ends September 30, 2017)
If your loan meets these criteria, you could be eligible for HARP (according to Quicken Loans):
Your loan must be owned or backed by Fannie Mae or Freddie Mac
Your loan must have closed on or before May 31, 2009
You must have a good history of keeping up with your mortgage payments
What’s the minimum credit score for refinancing with HARP? Homeowners with credit scores as low as 580 can refinance with HARP.
Then you will want to talk with lenders to see how your loan compares. Ads have said they may not be an appraisal (not in all situations).
- Goldbug
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Replied by Goldbug on topic Future of HAMP scheme?
I know its an old thread, but does anyone know what is going to happen to this program now Trump is in charge? I haven't heard anything specific, but there's just been an article saying that the tax credits that fund a lot of affordable home schemes are losing value ( ASAE 11th Feb ).jeffroger wrote: Hello, please if anyone knows where I can read more about President Obama's Homeownership Affordibility Program (HAMP), then let me know. I heard there is a guide to see how I can modify my loan using this guide.
- Finance Globe
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Replied by Finance Globe on topic Re: Hamp
Hi Jeff,
You can find information about this program at:
http://makinghomeaffordable.gov/
Best,
Mike
You can find information about this program at:
http://makinghomeaffordable.gov/
Best,
Mike
15 years 2 months ago
#6
- jeffroger
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was created by jeffroger
Hello, please if anyone knows where I can read more about President Obama's Homeownership Affordibility Program (HAMP), then let me know. I heard there is a guide to see how I can modify my loan using this guide.
15 years 2 months ago
#7