The Home Affordable Refinance Program is a comprehensive Financial Stability Plan to stabilize the housing market. A summary of eligibility under this program is as follows:
" First-lien mortgages owned, guaranteed, or securitized by Freddie Mac that are single-family 1- to 4- unit primary residences, including condos, cooperatives, Single-Family Seller/Servicer Guide (Guide) eligible manufactured homes, and our negotiated conforming jumbo mortgages. " FHA, VA, and RHS guaranteed mortgages are eligible, subject to the relevant agency guidelines. " Mortgages for properties that are abandoned, vacant, or condemned are not eligible. " Mortgages may be previously modified, but can only be modified once under HAMP.
Borrowers may be eligible for this program if they meet the following requirements:
" Borrowers who are 31 days or more delinquent and borrowers who are either current or less than 31 days delinquent and in imminent default. " A borrower may be considered in imminent default if the borrower is current or less than 31 days delinquent on their mortgage payments, and have a hardship that is stated in the Hardship Affidavit document. In addition, the borrower must have a Debt Coverage Ratio that is less than 1.20 and Cash Reserves that are less than three times their current monthly PITIA payment. " Borrowers who may be in foreclosure, in pending litigation involving the mortgage, or who are in active bankruptcy. " Borrowers currently performing under another workout arrangement will be considered for a Home Affordable Modification if they request it. " Borrowers must currently have a monthly housing expense-to-income ratio greater than 31 percent of their verified gross monthly income.
The Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit is a crucial document used in the process of applying for a mortgage loan modification program. This affidavit is designed to provide detailed information about the homeowner's financial situation and to demonstrate the hardship they are facing, which makes it difficult for them to meet their mortgage obligations. By accurately completing this document, homeowners can effectively present their case for eligibility under the Hennepin Minnesota Home Affordable Modification Program. In terms of different types, there are no specific variations of the Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit. However, the Hennepin Minnesota Home Affordable Modification Program may have other associated documents and forms required for the loan modification application process. These documents may include a Request for Mortgage Assistance form, IRS Form 4506T-EZ or 4506-T, a Dodd-Frank Certification Form, and other supporting financial documents such as bank statements, income verification, and expenses. The Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit is a comprehensive document that requires applicants to provide thorough details regarding their financial circumstances. Some relevant keywords that could be included in this description might include: — Hennepin Count— - Minnesota - Home Affordable Modification Program — Mortgage loamodificationio— - Hardship Affidavit — Financial hardshi— - Mortgage obligations — Eligibility criteri— - Financial situation — Supporting document— - Request for Mortgage Assistance — IRS Form 4506T-EZ/4506-— - Dodd-Frank Certification Form — Bank statement— - Income verification - Expenses It is important to note that the specific requirements and guidelines for the Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit may vary over time, and it is essential for homeowners to consult the program's official resources or seek professional advice for the most accurate and up-to-date information.The Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit is a crucial document used in the process of applying for a mortgage loan modification program. This affidavit is designed to provide detailed information about the homeowner's financial situation and to demonstrate the hardship they are facing, which makes it difficult for them to meet their mortgage obligations. By accurately completing this document, homeowners can effectively present their case for eligibility under the Hennepin Minnesota Home Affordable Modification Program. In terms of different types, there are no specific variations of the Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit. However, the Hennepin Minnesota Home Affordable Modification Program may have other associated documents and forms required for the loan modification application process. These documents may include a Request for Mortgage Assistance form, IRS Form 4506T-EZ or 4506-T, a Dodd-Frank Certification Form, and other supporting financial documents such as bank statements, income verification, and expenses. The Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit is a comprehensive document that requires applicants to provide thorough details regarding their financial circumstances. Some relevant keywords that could be included in this description might include: — Hennepin Count— - Minnesota - Home Affordable Modification Program — Mortgage loamodificationio— - Hardship Affidavit — Financial hardshi— - Mortgage obligations — Eligibility criteri— - Financial situation — Supporting document— - Request for Mortgage Assistance — IRS Form 4506T-EZ/4506-— - Dodd-Frank Certification Form — Bank statement— - Income verification - Expenses It is important to note that the specific requirements and guidelines for the Hennepin Minnesota Home Affordable Modification Program Hardship Affidavit may vary over time, and it is essential for homeowners to consult the program's official resources or seek professional advice for the most accurate and up-to-date information.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
