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  • Hafa Matrix For Countrywide Borrowers Form 2012

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Bank of America National Homeownership Retention Program Program Enhancements Fact Sheet Bank of America Loan Modification Update Since January 2008, Bank of America has helped more than 760,000 customers.

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Whether you're applying for a conventional or FHA loan, most lenders ask for two months' worth of bank statements. So, you may need to wait for one to two months to make sure these questionable items don't make an appearance.

HAFA is a program primarily designed for homeowners who are unable to stay in their home even with a loan modification under the Home Affordable Modification Program (HAMP).

FHA Loans Asset Requirements ing to FHA loans underwriting guidelines, the borrower is required to contribute a minimum of 3.5% of the purchase price to the loan. All assets must be fully documented as either having been seasoned for a total of 60 days or they need to come from an eligible, documented source.

Qualifying for the FHA Profit and Loss Loan is straightforward, with requirements including recent profit and loss statements, a balance sheet, and proof of self-employment history. Plus, the program follows FHA guidelines and automated underwriting system (AUS) standards, streamlining the approval process.

The Home Affordable Foreclosure Alternatives (HAFA) Program The HAFA program allows borrowers to leave their properties through two possible means, a short sale or a deed in lieu of foreclosure. Short sales require you to sell your house for less than what you still owe on your mortgage.

The MRI for FHA home loans is 3.5% of the adjusted value of the property. This is the minimum requirement and may be a higher percentage depending on the borrower's FICO scores and other factors.

Asset Verification and Financial History Lenders will also need to see: Bank statements for all your accounts to verify your savings and other assets. Federal income tax returns to assess your financial history and stability.

FHA down payment: At least 3.5 percent down if your credit score is at least 580, or at least 10 percent down if your credit score is between 500 and 579. FHA debt-to-income (DTI) ratio: 43 percent (up to 50 percent in some cases) FHA occupancy rules: Primary residences between one and four units.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232