Is your home under water? Many Nevadans do not realize that help is available through Nevada’s Hardest Hit Fund. With the fund, up to $50,000 curtailment is available. Funds are limited and will eventually run out.
To be eligible, the home must be owner occupied by a legal U.S. resident. The owner can only own one property. After assistance, the owner must live in the property for a minimum of three years.
The loan must be owned by Fannie Mae or Freddie Mac. You can determine if they own your loan by checking on www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup.
The seller must obtain a pre-approval letter for HARP 2.0. Freddie Mac and Fannie Mae have made changes to the HARP 2.0 program so that more homeowners are eligible. The Nevada Hardest Hit funds works in conjunction with the Fannie Mae and Freddie Mac HARP 2.0 and allows a refinance with unlimited loan to value.
For loan analysis and qualifications, it’s suggested you check with a local lender as they will be familiar with the guidelines and qualifications.
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