JohnA asked:
Could I get a loan modification if not insured by Fannie Mae or Freddy Mac since I meet the following criteria under MHA?
My monthly payment exceeds 31% of my gross monthly income
My loan originated before January 1, 2009
My loan has an unpaid principal of less than $729,750
I am the primary occupant of the home (not an investor or house flipper)
debt help settlement
Could I get a loan modification if not insured by Fannie Mae or Freddy Mac since I meet the following criteria under MHA?
My monthly payment exceeds 31% of my gross monthly income
My loan originated before January 1, 2009
My loan has an unpaid principal of less than $729,750
I am the primary occupant of the home (not an investor or house flipper)
debt help settlement
Tags: Fannie Mae, Flipper, Freddy Mac, Investor, January 1, Loan Modification, Mha, Occupant, Unpaid Principal
Yes. The only program that places restrictions on who owns the mortgage (Fannie or Freddy) is the HASP program. It is a program created to refinance mortgage for people who cannot obtain mortgage financing due to declining property values etc.
So, contact your current lender and tell them you feel you qualify for the Home Affordable Modification.
You may be better served hiring an attorney to assist or a loan modification company.
Don’t fall in to a scam you could do this yourself by doing the proper research and save a 2-10k fee.
It takes work can follow up and I hear you folks need to follow up more with the Loan Modification services then someone going directly to there lender. You need to get your finances down to a T and be prepared to go over all of them with your lender including assets you have. You also need to prove financial hardship. Here are some helpful sites I like to refer people