Hardest Hit Funds For 2nd Liens
Not sure if this is the right forum, so I can always try elsewhere. I know the renewed Hardest Hit Funds works for 1st liens, does anyone know, or have tried, to see if it will work on Junior liens?
Thanks
Check with each state, I just read Georgia will use it for both....
Program Details: Mortgage Payment Assistance
HomeSafe Georgia will pay up to 24 monthly mortgage payments directly to the lender (for first and second mortgages) for eligible applicants who have had an unemployment or underemployment hardship in the past 36 months and need help making the monthly mortgage payment.
Indiana wont do CFD or HELOC..
Thanks Jay! I know each state is different. Was in the middle of one in Michigan, 1st, and he went dark in the middle of the application. Sigh!
Wow! I just watched @Scott Carson webinar replay and he asked Craig Everett of Cairn Advisors this question. Craig was going to send him a list of states that allow 2nds to apply. Maybe he'll respond.
Thanks @Dennis Weber
We did a webinar with Craig Everett from CAIRN Advisors which helps note investors with both the HHF and FHA NPL Refinance programs. Here is the chart that Craig sent regarding 1st and 2nd line HHF amounts and programs. I hope this helps.
On a personal note, if you are chasing 2nd liens, you are really chasing after a "shrinking pool" of assets. With the number of new 2nd liens being created being substantially less then before, along with the sourcing being controlled by just a few parties, many people are chasing after over priced "crumbs." I get so many calls for 2nd liens in our offices. 2nd liens are way over priced currently!
If you are complaining about 1st's being overpriced, then you have to focus on different markets and or different sources.