Foreclosure Aid Programs Extended

newspaper1

The Federal Housing Finance Agency (FHFA) announced that it would extend it’s participation in the Home Affordable Mortgage Program (HAMP) and the Home Affordable Refinance Program (HARP) through the end of 2016.

These programs have provided critically important relief for many borrowers by allowing them to lower their monthly payments and as a result, have prevented many foreclosures. said Mel Watt, FHFA director. FHFA is regulator of Fannie Mae and Freddie Mac.

Under HARP, homeowners who have loans backed by Fannie Mae or Freddie Mac can refinance at lower interest rates, even if their home has lost value. HAMP, on the other hand, provides incentives for lenders to alter mortgage terms of borrowers in order to make the loans affordable.

HAMP and HARP were started after the housing crises to help homeowners avoid foreclosure. While the number is lessening, Watt estimates that about 600,000 borrowers could still be helped by HARP. These programs are not meant to be permanent programs and this would be the final extension for HAMP and likely for HARP too.

If you need help I am here and would be happy to assist you.

Donna Bishop     (239) 560-3149    or   email me:   donnabishoprealtor@gmail.com

Real Estate in Cape Coral/Fort Myers is right for you!  and so am I !

 

Want “Smoking Hot” Deals in Cape Coral or Fort Myers?

 

 

 

About donnabishoprealtor@gmail.com

Awesome Service: I make dreams come true. I am a Real Estate Consultant. I place great value on the needs, expectations and goals of all my clients whether buying or selling. By helping they find their perfect solution. I will truly listen to you. I have 33+ years experience in all phases of real estate. I am a Loan Modification Specialist, a Short Sale Expert, and a Successful Negotiator. A certified Senior Real Estate Specialist. Former Owner/Broker of A & B Mortgage Brokers of Fl. Plus a former Appraiser. A Professional Realtor. This experience and knowledge gives me the confidence to advise you correctly. I want you to have an Awesome Experience so you will recommend me to all the people you care about. After all, a referral is sending someone you care about to someone you respect.

Leave a Reply

Your email address will not be published. Required fields are marked *