8 Principal Reduction Program Assist homeowners who have suffered a hardship, owe more than their home is worth and are unable to afford their current mortgage payment Benefit assistance up to $100,000 per household Help homeowner attain affordable monthly payment with goal of 31%-38% front-end ratio Loan to value ratio must fall within 105%-140% after modification Loan origination date on or before, January 1, 2010 - Designed to work in conjunction with standard HAMP and proprietary loan modification programs - Recast option available if affordability and loan to value requirements are met
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