Long-Time Board Member Dies
Board member John Moore of Birmingham passed away on April 30. Moore served on the AHFA Board of Directors for more than 26 years. He was a treasured member of the AHFA family and will be greatly missed. The AHFA staff and Board extend sincere condolences to his family and friends.
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Hardest Hit Alabama Hits the Airways
Beginning May 1, television commercials promoting the foreclosure prevention program, Hardest Hit Alabama, have begun airing across the state. Through HHA, eligible homeowners will receive assistance, up to $25,000 per household, to pay their current mortgage payment and all other mortgage-related expenses, including payments on any subordinate liens.
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Conventional Loans Return to Step Up
AHFA is again accepting reservations for conventional loans through its Step Up homeownership financing program. Using the Fannie Mae HFA Preferred product, AHFA is able to offer 97% LTV to borrowers with a credit score of at least 680 who earn less than $97,300 annually. Introduced in 2000, Step Up helps those who can afford a market-rate mortgage, but whose savings fall short of the amount needed for entry costs like a down payment, closing costs and prepaid items.
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ServiSolutions to Aid Missouri HFA AHFA's loan servicing department, which does business as ServiSolutions, was notified in April that it has been selected--by a unanimous vote of the Commission's Board of Directors--to serve as Master Servicer for the Missouri Housing Development Commission. AHFA expects to begin receiving the Commission's loans in August. |
