Program Leverage with Other Sample Clauses
Program Leverage with Other. Financial Resources This program is designed to complement and supplement HAMP, Non-HAMP or other lender/servicer workout solutions. Lender/servicers must be willing to participate.
1. Program Overview The Temporary and Immediate Homeowner Assistance (TIHA) can provide up to $30,000 for partial or full reinstatement or other mortgage related default assistance. Mortgage related default assistance may help pay delinquent taxes, insurances and association dues. TIHA funds can be used to address: • delinquent mortgage payments including escrows • escrow shortage payments • payment of non-escrowed taxes or insurances • satisfaction of delinquent condo or planned unit development (PUD) homeowners association dues and special assessments • satisfaction of subordinate liens, superior real estate tax liens or other liens related to the property
2. Program Goals To help a homeowner avoid foreclosure when faced with temporary or immediate crisis.
Program Leverage with Other. Financial Resources As the Program will reduce the existing first mortgage loan; there will be a minimum 1:1 private capital leveraged match. Lender match amounts shall be documented at the time of closing of the modification.
