Principal Reduction Alternative<\/u><\/a> (PRA), which was aimed at homeowners with a loan-to-value ratio of more than 115 percent, for homeowners who were unemployed the Home Affordable Unemployment Program (UP), was designed to give “temporary forbearance”; the Second Lien Modification Program (2MP), which allowed servicers to modify second liens when a homeowner receives a first lien modification through HAMP, and with the aim of helping homeowners “exit their homes and transition to a more affordable living situation through a short sale or deed-in-lieu of foreclosure the Home Affordable Foreclosure Alternatives Program (HAFA) was created.<\/p>In 2014, The deadline for MHA applications was extended by Obama Administration until the end of 2016.\u00a0<\/p>
Even if the MHA program has expired, the Treasury Department encourages homeowners to contact their mortgage company directly to inquire about available solutions.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t