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The Sunflower State ranked 45th for highest foreclosure rate this month. With 1,278,548 homes and a total of 100 housing units going into foreclosure, the 35th most populous state’s foreclosure ...
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
The Home Affordable Modification Program (HAMP) is a government program introduced in 2009 to respond to the subprime mortgage crisis.HAMP [10] is part of the Making Home Affordable program (MHA), [11] established in concert with the Hardest Hit Fund program (HHF) [12] under the Troubled Asset Relief Program (TARP), a part of the Emergency Economic Stabilization Act of 2008. [13]
In 2007, Congress selected NeighborWorks America to administer the National Foreclosure Mitigation Counseling program. In a continuing effort to assist in recovery from the housing crisis, in 2009 NeighborWorks launched the Loan Modification Scam Alert campaign and Stable Communities Initiative.
But one such program, the U.S. Treasury Department's Hardest Hit Fund, is slowly but surely evolving from a political proposal to over $7.6 billion in desperately needed help for people struggling ...
Down payment assistance (DPA) programs are loans and grants designed to provide homebuyers with money to help them pay for a down payment. Some programs also help with closing costs. There are ...
The National Community Stabilization Trust (NCST or Stabilization Trust) is a Washington, D.C.–based non-profit organization that facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations to promote property reuse and neighborhood stability.
Buying a home can be exciting, exhausting and, no matter how smoothly the process may go, one of the most stressful things you can do in life. Not having enough money to adequately finance a ...