Common use of Property/Loan Eligibility Clause in Contracts

Property/Loan Eligibility. Criteria The homeowner must currently occupy the property as their primary residence, and the residence must be located within the state of Alabama. Eligible structures include single-family homes, attached or detached, and manufactured housing attached to real property. Existing mortgage loans on the property must have an unpaid principal balance totaling no more than $258,691. Alabama HHF will be available only for mortgages executed and recorded on or before September 1, 2010.

Property/Loan Eligibility. Criteria The homeowner must currently occupy the property as their primary residence, and the residence must be located within the state of Alabama. Eligible structures include single-family homes, attached or detached, and manufactured housing attached to real property. Existing The homeowner’s current first-lien mortgage loans on the property must have an unpaid principal balance totaling no more than $258,691258,690. Alabama HHF will Assistance for a loan modification or recast may not be available only for mortgages executed and recorded on or before September 1, 2010used to reduce the property’s combined loan-to-value below 80%.

Property/Loan Eligibility. Criteria The homeowner must currently occupy the property as their primary residence, and the residence must be located within the state of Alabama. Eligible structures include single-family homes, attached or detached, and manufactured housing attached to real property. Existing mortgage loans on the property must have an unpaid principal balance totaling no more than $258,691258,690. Alabama HHF will be available only for mortgages executed and recorded on or before September 1, 2010. Mortgages originated by entities in the business of regularly making mortgage loans to refinance properties owned prior to September 1, 2010 will be eligible.

Property/Loan Eligibility. Criteria The homeowner Homeowners must currently occupy the property as their primary residence, residence and the residence must be located within the state of Alabama. Eligible structures include single-family homes, attached or detached, and manufactured housing attached to real property. Existing mortgage loans on the property must have an unpaid principal balance totaling no more than $258,691258,690. Alabama HHF will Mortgages must be available only for mortgages originated by a financial institution in the business of regularly originating mortgage loans and the mortgage loans must be executed and recorded on or before September 1, 2010prior to the homeowner’s financial hardship.