I also noticed that there was a “warning” in the wording to not begin defaulting on one’s mortgage(s) now that this program has been announced (4/14/16). The applicant must have been “in default” on 3/1/16 to qualify for the program.
This is to prevent scamming “strategic defaulters” which happened en masse AFTER the announcements of HAMP I and II.
If Frannie hasn’t learned anything but this since then, then that is at least something :=0
