FL homeowners flock to principal reduction program

Effective immediately, Today’s Home Solutions of America is offering a one of a kind principal reduction program to Florida homeowners who are "upside down" in their mortgages. This is the best option available to a homeowner who wants to keep his home and can afford to make a payment based on the current market value.

Borrowers in Florida, which had the second-most foreclosures, will receive an estimated $7.6 billion in benefits from loan modifications, including principal reduction. his administration’s Home.

ORLANDO, Fla. – Florida housing officials rolled out a new program Wednesday designed to help homeowners who are underwater with their mortgages. The "Principal Reduction Program" was created to.

The Principal Reduction program provides assistance to eligible homeowners who have remained current on their payments and who owe at least 115 percent more on their home than its current market value, commonly referred to as the home being "underwater." The florida hardest-hit fund Principal Reduction (HHF-PR) program is designed to assist.

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Bank of America Reduce Principal / Las Vegas Real Estate  / reduce mortgage principal ATLANTA, Jan. 17, 2017 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that funding for its 2017 affordable housing program (ahp. closing-cost, and principal.

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Background. The size of the PRA investor incentive payments depends not only on the amount of principal reduced but also on the loan-to-value ratio and the loan’s payment history before the HAMP modification. The PRA investor incentive payments range from 6% to 21% of the principal amount reduced.

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For eligible homeowners, the program will reduce mortgage payments to less than 38 percent of household income by reducing principal to between 105 and 140 percent of the home’s value.

The principal reduction program uses an effective and simplified formula to determine an affordable payment for the homeowner that is based on a percentage of the borrower’s gross income. After they have that amount, Citi will then reduce the monthly payment on that mortgage to that amount.