Treasury to Announce New Program to Avoid Foreclosure

Treasury to Announce New Program to Avoid Foreclosure

Treasury Announces Short Sale Incentive Program As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications.

WASHINGTON – With the Making Home Affordable (MHA) program delivering much-needed relief to homeowners and to our economy just over two months after the release of program guidelines, Treasury Secretary Tim Geithner and Housing and Urban Development (hud) secretary shaun donovan today provided an update on the program’s impact on stemming the housing crisis and keeping families in their homes and announced new options for homeowners facing foreclosure. The announcement and update came.

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The United States Department of the Treasury is launching, with an official announcement expected next week, a new program to help ailing borrowers escape foreclosure. The Chief of the Homeowner Preservation Office at the Treasury, Laurie Maggiano, released information on the Home Affordable Foreclosure Alternatives (HAFA) while speaking at the MBA’s 96th Annual Convention going on in San Diego.

Zillow: Home price depreciation to worsen market into 2011 However, the rate of monthly depreciation has stabilized as the housing market heads towards the bottom, the firm said. On a year on year basis, the Zillow Home Value Index declined 5.1% to $147,900. Home values have fallen 23.7% since their peak in May 2007.

To this end, the White House has put in place three new plans of action to prevent foreclosures: 1 – Making Home Affordable This program, which includes HAMP, is being expanded through.

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Families Struggling To Avoid Foreclosure Program Will Bridge Struggling Homeowners To Affordable Mortgage Modifications HEMPSTEAD – Attorney General Eric T. Schneiderman today announced the launch of the New York State Mortgage Assistance Program, or NYS MAP, which will provide small loans to families struggling to avoid foreclosure.

A federal inspector is taking the Treasury Department to task for not doing enough to promote HAMP, a program designed to help borrowers avoid foreclosure. By Lisa Prevost May 8, 2015

Treasury and HUD established HAMP (Home Affordable Modification Program ) in 2009 to provide relief to homeowners facing financial hardship. Through a combination of lowered interest rates and modified loan terms, monthly payments are reduced to affordable levels.

Treasury Announces Short Sale Incentive Program As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications.

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