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National Foreclosure Settlement - HARP Grant Program Available
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As of December 2, 2013
Home Affordable Refinance Program (HARP) funds available: $4,531,660
Michigan Attorney General Bill Schuette and other participating state Attorneys General entered into a settlement with the five leading bank mortgage servicers. The National Mortgage Settlement (NMS) requires servicers to provide monetary sanctions and relief and mandates comprehensive reforms in mortgage loan servicing. Michigan received $97.2 million for the purpose of creating the Homeowner Protection Fund and a portion of these funds were appropriated by the Legislature to MSHDA.
HARP Refinance - for all borrowers applying for the Home Affordable Refinance Program (HARP). Borrowers may be eligible to receive $500 toward their closing costs. Grants support refinances for single-family/one-unit, owner occupied and principal residences.
Important program links are below. Please read the step-by-step instructions completely:
National Mortgage Settlement (NMS) funds are available on a first-come, first-served basis; with preference given to disabled veterans. It is the responsibility of the borrowers and Lenders to monitor MSHDA website for funding availability and funding levels.