Making Home Affordable Programs

Government Making Home Affordable Programs:

The are a number of programs in Making Home Affordable Program.
Click Government Making Home Affordable Programs to explore the Making Home Affordable Programs.
Among the number of possibilities of getting government helps, let consider the case of "Get Help With Fallen Home Value".
Home Affordable Refinance Program (HARP) - April 2009.
If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA's Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.
HARP Eligibility Requirements
- The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.
- The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
- The current loan-to-value (LTV) ratio must be greater than 80%.

You may be eligible for HARP if you meet all of the following criteria:
- The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
- The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
If your loan is owned by Freddie Mac, you may check your potential eligibility for HARP here.
If your loan is owned by Fannie Mae, you may check your potential eligibility for HARP here.
Click Home Affordable Refinance Program for Home Affordable Refinance Program (HARP)

Home Affordable Refinance Program 2 (HARP 2) - March 2012.
HARP was not a major success. HARP 2 removed some obstacles, such as mortgage insurance and equity caps and more lenders participate in it. Changes to the HARP program include:
- No Loan-to-Value cap (doesn’t matter how much you owe on your current mortgage)
- No property Appraisal (as long as there is proper information in the AVM system)
- You Can Change Lenders
- You Can Qualify even with a recent Bankruptcy or Foreclosure

FHA Short Refinance
If you're not behind on your mortgage payments but owe more than your home is worth, FHA Short Refinance may be an option that your mortgage servicer will consider. FHA Short Refinance is designed to help homeowners refinance into more affordable, more stable FHA-insured mortgage. If your current lender agrees to participate in this refinance, they will be required to reduce the amount you owe on your first mortgage to no more than 97.75 percent of your home's current value.
Click FHA Short Refinance for FHA Refinance for Borrowers with Negative Equity.

Treasury/FHA Second Lien Program (FHA2LP)
If you have a second mortgage and your first mortgage servicer agrees to participate in FHA Short Refinance, you may be eligible to have your second mortgage on the same home reduced or eliminated through the FHA Second Lien Program (FHA2LP). If your second mortgage servicer agrees to participate, the total amount of your mortgage debt after the refinance cannot exceed 115 percent of your home's current value.
Click FHA Second Lien Program for Treasury/FHA Second Lien Program (FHA2LP)

Principal Reduction Alternative (PRA)
Click Principle Reduction Alternative
 for Principal Reduction Alternative Program.

Housing Finance Agency Innovation Fund
Click Housing Finance Agency Innovation Fund for Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HHF)

Request Mortgage Assistance
Click Request Mortgage Assistance for Mortgage Assistance Request form.
Loan Forms
Please download loan forms and a list of required documents, fill them out and return your loan application to us. We will determine if you qualify for a Loan Pre-Approval Letter. There is no cost for a loan pre-approval and no obligation to do a loan with us.
Click Home Loan Forms to download loan forms.

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Realtheon / 5A Mortgage
167 N. White Rd. • San Jose, CA 95127
Tel +1.408.923.8951 • Cel +1.408.835.8811
DRE # 01356627. NMLS # 445911, 451705

San Jose, Silicon ValleyMilpitasCampbell, Cupertino

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