Sentences with phrase «affordable payment target»
The Bank of America program employs principal reduction as the first step toward reaching HAMP's affordable payment target of 31 percent of household income when modifying certain NHRP - eligible mortgages — ahead of lowering the interest rate and extending the term.
https://www.totalmortgage.com/ Not exact matches
Specifically, the government - run Home Affordable Refinance Program (HARP) targets homeowners who have made their mortgage payments on time, but who have a high LTV due to declining home prices or some other factor.