Common use of Program Exclusions Clause in Contracts

Program Exclusions. Homeowner has a subordinate lien that is in foreclosure as evidenced by a recorded NOD or Notice of Trustee’s Sale (“NOS”). • Homeowner is in “active” bankruptcy. Homeowners who have previously filed bankruptcy are eligible for consideration only with proof of court order “Dismissal” or “Discharge”. • MRAP benefit assistance request for reinstatement with a first-lien total monthly first lien mortgage payment PITI (principal, interest, taxes and insurance, as applicable) and any escrowed homeowner’s association dues or assessments, payment of greater than 38% of the homeowner’s gross monthly household income, excluding temporary income (e.g., unemployment or short-term disability benefits) will be considered unaffordable and is excluded from MRAP reinstatement benefit assistance. Such homeowners with unaffordable payments may be considered for Principal Reduction Program (“PRP”) assistance. • The total past due arrearage of the first mortgage loan exceeds the maximum available MRAP benefit amount. • Loan is less than two (2) payments past due as of the date of request for assistance. • Property is subject to a first priority lien securing a Home Equity Line of Credit (“HELOC”).