Tuesday, April 24, 2012

Take your pick!

Acronym's to the left of me, state programs to the right. Step right up...everybody is welcome to apply. Of course, WE decide who is truly worthy. But, if it's help you want, well, help you shall have.

Unemployment Mortgage Assistance Program -- you simply  need to be unemployed (oh, and receiving unemployment benefits)...free money.

Principal Reduction Program -- simple economic hardship (stop paying) because with a "lender match," you could receive up to $100k.

Mortgage Reinstatement Program -- for those who have "fallen behind on payments" (again, STOP paying), provides up to $20k to catch up of missed payments, back taxes, and lapsed insurance.

Transition Assistance Program -- up to $5,000 for relocation after a short sale or deed-in-lieu foreclosure...get out of that pesky home loan and live free for several (more) months.

HAMP: The Home Affordable Modification Program -- lower mortgage payments to 31 percent of pretax income; that is, if you for some reason don't want free money from other programs.

HARP: The Home Affordable Refinance Program -- if you weren't shrewd enough to wait, and took HAMP, well, you lost out on having your mortgage refinanced to lower rates...or maybe you didn't.

HAFA: The HomeAffordable Foreclosure Alternatives -- earn a foreclosure without having a "foreclosure" on your credit history...and purchase another (cheaper) home almost immediately.

Very nice!

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