Nevada has announced a program which will leverage the Hardest Hit Funds to allow eligible borrowers to receive up to $50,000 to apply to their loan's principal balance when refinancing through the new Home Affordable Refinance Program (HARP), called HARP 2.0. The curtailment funds, when combined with the refinance benefits of HARP 2.0, will lower monthly payments and increase loan sustainability for qualified borrowers who owe more on their loan than their home is currently worth.
To qualify for the loan curtailment program, Nevada homeowners first must qualify with Nevada Hardest Hit Fund [1] for the curtailment payment and receive a certificate of eligibility. Then, they must apply and qualify for HARP 2.0 with a Freddie Mac- or Fannie Mae-approved lender. View eligibility criteria [2]. Click here for the Eligibility Calculator [3] or call (855)428-HELP (4357).
Links:
[1] http://homemeansnevada.nv.gov/HHF/Hardest_Hit_Fund/
[2] http://homemeansnevada.nv.gov/HHF/All/Principal_Curtailment_Program/
[3] http://calculator.nevadahardesthitfund.org/eligibility.aspx