POST No. 900: HEMAP IS BACK; SO SOON WILL BE ACT 91.
No. 900 In June, Act 70 of 2012 funded the Pennsylvania Housing Finance Agency’s (PHFA) Homeowner’s Emergency Mortgage Assistance Program (HEMAP), which had been shut down for a year. The mailing of Act 91 Notices by lenders to delinquent borrowers had been discontinued, since PHFA was not financially able to accept any new HEMAP applications. This […]
PHFA May Be Lending Again.
No. 817 Rumor has it that the PHFA, which went out of the lending business last August, may be back in. The reason is reputed to be the settlement between the Attorneys General of almost all states, including Pennsylvania, and the largest lenders over abusive practices, such as robosigning. In 1983, Act 91 established the […]