Updated over 13 years ago on . Most recent reply
Making Homes Affordable Question
So, I thought someone could help give some direction on my dad's situation. He is recently unemployed and he owns a rental in my town with a pretty high interest/PMI. We were thinking that maybe he could move in there (because he wants to move this way) and then qualify for one of the making homes affordable programs.
One question- is it possible, if you qualify, to have your interest payment permanently lowered AND then qualify for the temporary unemployed programs? The unemployed programs will lower his monthly payments for a year or so, but he is also interested in the long term lowering of the payment.
He meets all of the criteria for both the Home Affordable Refinance Program (HARP) and the Home Affordable Unemployment Program (UP). With the exception of the fact that the house is not his primary residence, yet...
Hopefully someone knows a bit about this...