Treasury to Announce New Program to Avoid Foreclosure

HUD-PA-426, How To Avoid Foreclosure (May 2001) 02-13 Deed-In-Lieu of Foreclosure Consideration Increase and the Authorization to Pay Cash To Occupants for Keys Prior to Eviction

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.

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.

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On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan.

Treasury Announces New HAMP Changes With Greater Eligibility, More Principal Reduction Incentives.. supposed to help four million borrowers lower their mortgage payments and avoid foreclosure.

“Our hope is that today’s announcement will reach them, and they will reach out immediately for help,” said Treasury Secretary. to allow them to avoid foreclosure,” he said. Other lending companies.

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There will be a press conference today announcing hopefully some new initiatives by the government involving loan modifications. No info is available just yet but this is something for us to watch today. HP-1263: Treasury to Join FHFA, GSEs, HOPE NOW to Announce Streamlined Modification Program

The new Modification Plan is in addition to three existing programs which have been enhanced – all designed to help qualified homeowners prevent foreclosure because of unemployment, under.

Foreclosure Prevention Assistance. On June 17, 2015, the OCC announced certain business restrictions related to mortgage servicing.

"The American people are essentially being asked to shoulder an additional $50 billion of national debt without being told, more than 16 months after the program’s announcement, how many people Treasury hopes to actually help stay in their homes as a result of these expenditures, how many people are intended to be helped through other.