I had a friend tell me earlier today about the HUD program and that it is definitely worth looking into.

11 years mortgage experience and having been a banker (lender) and broker... a knowledgeable broker get you better rates, lower fees and has more programs.

She was told to allow the house to go delinquent so she would qualify for a government program mortgage reduction.

To our knowledge the program is not mandatory.

Dodd-Frank does not require any particular underwriting method to be used, that means one does not need to select a particular program method as used in VA, FHA, Fannie Mae, Freddie Mac, USDA, or other secondary market programs.

And no, I don't have any other affiliation with him or his company.

Jasmine Claye depending on the loan program, the lender will likely only require an appraisal.

If nothing else, it can give you an idea of what's in the area.I have no affiliation with the website...just thought I'd share one of the tools I use.Happy hunting!

Piggy Back loans are used to avoid a loan program that would require one loan for all proceeds which may mean having to pay for PMI or MI.  

These programs are put on by the government such that lower income individuals who otherwise would not be able to buy a house, now can.