Zillow Advice: Refinance - Can I get principal reduction under HAMP? http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ Zillow Advice | Zillow Real Estate Unfortunately not....Fannie ... http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ Unfortunately not....Fannie Mae and Freddie Mac are not reducing principle they feel the values are&nbsp;increasing (a market they created since they own 51% of mortgages) Tue, 25 Jun 2013 19:28:00 GMT http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ 2013-06-25T19:28:00Z [Promotion and hotlink deleted ... http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ <div style="text-align: right;">[Promotion and hotlink deleted by Zillow moderator. Please see our&nbsp;<u><a style="text-align: right;" href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a></u>&nbsp;for posting guidelines.]</div> Sun, 13 Oct 2013 16:12:00 GMT http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ 2013-10-13T16:12:00Z Thank's for the best news ... http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ Thank's for the best news I've heard. I have been all over H.U.D. web sight and searched for HAMP guidelines to no avail. This property is about 130% under water and I have lost a huge sum of money trying to save it for my kid's. Now all I have to do is find a way to do it. Spent $2 thou on an atty. last year and got turned down for mod. in Dec. Spent $8 thou on it and it's rented to my daughter now. I was about to give up and go to short sale. I even tried a re-fi but rates are up even with my excellent credit. Many thank's Mr. Good Neighbor Wed, 26 Jun 2013 00:29:00 GMT http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ 2013-06-26T00:29:00Z "Thank's for the answer."--------------If ... http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ "Thank's for the answer."<br/>--------------<br/>If you are relying on an agent's answer as being the Gospel then you are in for a shock.<br/><br/>The truth is that under HAMP it is possible to get a principal reduction, it all depends on the numbers. HAMP has a specific calculation and if you qualify, you could receive a combination of rate reduction and principal forgiveness in order to get your payment within the program limits.&nbsp;<br/><br/>To tell someone "unfortunately not" without knowing&nbsp;anything&nbsp;about their situation is moronic!&nbsp; Tue, 25 Jun 2013 22:56:00 GMT http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ 2013-06-25T22:56:00Z This is nuts, I just received ... http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ This is nuts, I just received notification from Zillow that my property value went down $4,925 or -2.1%. Granted this is an AZ. real estate depressed community, but at this rate the Gov. will own 51% of private housing in America. I am an indipendant republican and I don't want something for nothing. This crises was caused on purpose to divide and create chaos in our great nation. I'm not a professional investor but I am just trying to preserve this property for my kid's. Thank's for the answer. Tue, 25 Jun 2013 19:55:00 GMT http://www.zillow.com/advice-thread/Can-I-get-principal-reduction-under-HAMP/498934/ 2013-06-25T19:55:00Z