Many people call it the Obama Mortgage. The official program called making home affordable, and since early 2009, this program has offered hope for homeowners trying to avoid default and foreclosure on their home loans. The program was created to reach some nine million borrowers with a combination of refinancing options and loan modification.
The Home Affordable Refinance Program , also known as HARP , is a federal program of the United States, set up by the Federal Housing Finance Agency in March 2009 to help underwater and near-underwater homeowners refinance their mortgages. Join the 3.4 Million people who have benefited from the Home Affordable Refinance Program !
Obama announced the program in Nevada, one of the hardest-hit states, along with Senate Majority Leader Harry Reid and other lawmakers. Reid, a Nevada Democrat, is in a battle for re-election in.
Obama's 2009 mortgage-modification program would have helped 70% more homeowners if lenders had been better organized.
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Obama’s economy stimulus package was passed in February 2009 as the American Recovery and Reinvestment Act. It ended the recession in July.. But the Treasury’s TARP program also invested $92 billion to strengthen community banks across the country.
So, Age Friendly Sausalito, a volunteer group of older residents, worked with municipal officials, to create The Age-Friendly.
The federal government’s Home Affordable Refinance program is designed to help homeowners refinance their mortgages even if they owe slightly more than the current value of their homes.
In the Obama administration’s last year, the fund got an additional $2 billion to assist struggling homeowners and communities. "While the housing market has strengthened in recent years, there are still many homeowners and neighborhoods experiencing the negative effects of the financial crisis," said the Treasury’s Deputy Assistant.
. Obama's last-minute economic-policy actions: a mortgage-fee cut under a government program that's popular with first-time home buyers and.
Editor’s Note: The harp program expired Dec. 31, 2018, but most homes have increased in value considerably since HARP rolled out. This means many homeowners may currently be eligible for a standard conventional refinance.. The Obama refinance is one of today’s most powerful tools available to you as an underwater homeowner.
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The Home Affordable Modification Program — the White House’s signature effort to assist struggling borrowers in the wake of the financial crisis and Great Recession — was initially promised to help up to 4 million homeowners avoid foreclosure. Through May, fewer than 880,000 borrowers were making payments on their new HAMP mortgages.
how to calculate home equity value This calculator will calculate the amount of the Home Equity Line of Credit you may qualify for based on the following three factors:. The appraised value of your property. Your current outstanding mortgages against the property.