FOR IMMEDIATE RELEASE
CERRITOS, Calif. --- Sun West Mortgage Company, Inc. has implemented the federal government's Hardest Hit Fund (HHF) for unemployed or underemployed homeowners participating in state housing finance agencies who may now qualify for assistance with mortgage payments.
The HHF was created to provide temporary mortgage payment assistance to eligible homeowners who live in a participating state or jurisdiction where the past housing and economic declines have been experienced the most. The fund offers several programs to assist homeowners in these territories who are experiencing financial burdens such as unemployment or underemployment and are having difficulty with their monthly mortgage payments.
Each program is managed by the state's housing finance agency (HFA), with requirements and assistance amounts established by each state or jurisdiction. Currently, the HHF assistance programs are available in these 18 territories:
- New Jersey
- North Carolina
- South Carolina
- The District of Columbia
According to Chief Operating Officer Jennifer Vallinayagam of Sun West Mortgage Company, Inc.," We are pleased to be participating in the program in every HHF State as part of our nationwide commitment in helping homeowners achieve affordable homeownership."
For additional information and updates about Sun West Mortgage Company, Inc., visit http://www.swmc.com.
About Sun West Mortgage Company, Inc. (Sun West)
Sun West Mortgage Company, Inc. is a full service, mortgage banker established in 1980. The company's excellent service and fast turn-time has made Sun West a multi-billion dollar national originator. As a result, Sun West is a leader in offering a diverse set of products with low rates and excellent pricing. Sun West is a HUD-approved mortgagee (FHA & HECM), VA LAPP approved, USDA lender, Fannie Mae and Freddie Mac Seller/Servicer and Ginnie Mae Issuer. Sun West is a national leader in HMBS, residential, and commercial securitization.
About Hardest Hit Fund (HHF)
The Hardest Hit Fund was established in February 2010 by President Barack Obama as a part of the government's action to improve solidity in the housing market. The HHF has increased its initial support of $1.5 billion to $7.6 billion, to extend assistance in more states and the District of Columbia. Some factors attributing to which territories were chosen include the number of homeowners who owe more money on their home loan than its current market value and the number of jobless claims against the national average.
About Housing Finance Agency (HFA)
Housing Finance Agencies are located in 53 territories including Guam, Northern Mariana Islands, Puerto Rico, Virgin Islands and the United States. The agencies present assistance to families and businesses as a part of their initiative in developing a supportive housing industry. Services are offered to those in need of housing guidance including, but not limited, to persons with mental illnesses, physical disabilities and homeless families.
Sun West Mortgage Company, Inc.
SOURCE: Sun West Mortgage Company, Inc.