Principal Reduction

The Principal Reduction Program (PRP), a federally funded program, is for homeowners who owe a balance more than the value of their home is worth. The primary goal of the PRP is to assist homeowners who have suffered an eligible hardship by reducing outstanding principal balances of qualifying properties.

We’ll provide the financial assistance to help you reduce the principal balance of your first mortgage connected with a loan recast, modification, or stand-alone curtailment. This will give you the room to pay a mortgage you can afford.

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