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Foreclosure Defense and Loan Modification Blog

New FHFA Report Gives Details On Principal Reduction Modification Program

Posted by Maxwell Swinney

Saturday, July 23, 2016

In April of 2016 the FHFA (Federal Housing Finance Authority) announced that it would be offering a one-time principal reduction modification program for eligible borrowers with loans owned or guaranteed by Fannie Mae or Freddie Mac.

To be eligible for the program, FHFA said that the borrower must occupy the property and be 90 or more days delinquent as of March 1, 2016. The mark-to-market loan-to-value ratio must be 115% or greater, and the unpaid principal balance must be $250,000 or less.

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Topics: loan modification, principal reduction, FHFA

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Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

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Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

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