Wednesday, February 18, 2009

HASP Note 3: Some Examples and a Q and A Page.

From Treasury website some examples of refinancing and subprime loan modification are HERE.

Note that there are a possible $8,000 in additional government costs beyond those I included in my initial Excel workbook (HERE). From page two of the Treasury document :

"If Family ..remains current on their payments, they will receive incentive payments up to $1,000 a or $5,000 a year over five years, that would go towards reducing the principal they owe. Additionally, the mortgage servicer can earn an up-front incentive fee of $1,000, plus up to $1,000 per year in “Pay for Success” fees for three years, so long as Family ...remains current."

There is also a question and answer page HERE.

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