Common use of Program Interactions with Other HFA Clause in Contracts

Program Interactions with Other HFA. Programs The 1st mortgage principal reduction program is aimed at the underemployed population of income qualified/limited home owners, not the unemployed. Thus, it is possible that a homeowner could receive a 1st mortgage principal reduction through this Program and then subsequently lose their job and eventually need a short-sale assistance program through another NAHAC HHF Program.

Program Interactions with Other HFA. Programs The 1st mortgage principal reduction program is aimed at the underemployed population of income qualified/limited home owners, not the unemployed. Thus, it is possible that a homeowner could receive a 1st mortgage principal reduction through this Program and then subsequently lose their job and eventually need a short-sale assistance program through another NAHAC HHF Program. It is also quite possible that a homeowner may receive a 2nd lien reduction and subsequently qualify for either a HAMP modification in need of supplementation or a regular 1st mortgage principal reduction program.

Program Interactions with Other HFA. Programs The 1st mortgage principal reduction program is aimed at both the underemployed population of and the fully employed income qualified/limited home owners, not the unemployed. Thus, it is possible that a homeowner could receive a 1st mortgage curtailment type principal reduction through this Program and then subsequently lose their job and eventually need a the short-sale assistance program through another NAHAC HHF Programprogram. It is also possible that a homeowner may receive a 2nd lien reduction or Mortgage Payment Assistance. Each HARP eligible candidate will be screened for 2nd lien reduction eligibility.