For the Responsible Homeowner: Reduce your Principal Mortgage Balance!

Real Estate Agent with Garrette Custom Homes SA537042000
HARP 2.0 Principal Reduction Assistance 
If you are like me, you don't want to move.  You love your house, your neighbors (okay at least most of them) and your kids love their school and friends. You simply DONT WANT TO SELL!  Unfortunately, you are upside down on your home. Like REALLY upside down. So, what do you do? It seems like you may NEVER get out from under your ridiculous mortgage. What alternatives do you have to a Short Sale?
The truth is....if you are a responsible homeowner and are current on your mortgage, you don't have many options.  Or at least you didn't....until NOW! The State of AZ may be here to save the day!  As always, if you are experiencing a financial harship, this program may NOT be for you and you may need to seriously consider the Save Our Home AZ Short Sale Assistance Program and contact your AZ Short Sale agent today.  But if you are not, and keeping your home is your primary goal, then this program may be for you!

In conjunction with a HARP 2.0 refinance, homeowners may qualify to have their principal reduced to 100% Loan to Value by Save Our Home AZ. 

It is a simple process. Meet the qualifications and complete the application process of the Save Our Home AZ program, get pre-approved by a lender for the HARP 2.0 refinance and complete the credit counseling. 


  • Max Program Contribution is $100,000.
  • Homeowner’s loan must be owned by Fannie Mae or Freddie Mac.
  • Household may not have Gross Income of more than 150% of Area Median Income (AMI) (i.e., for a family of four in Maricopa County, the income limit is $98,250 or less).
  • Eligible properties may not have an outstanding mortgage(s) in excess of 150% of purchase price.
  • Property must be the homeowner’s primary residence.
  • Current Loan to Value (LTV) or Combined Loan to Value (CLTV) must be more than 120%.
  • Principal reduction target of 100% LTV after HARP 2.0 refinance.
  • Assistance will be provided without a lien.
  • Unsecured promissory note signed concurrently with HARP 2.0 refinance.
  • May be combined with Second Mortgage Settlement Assistance up to $16,500 or 40% of outstanding second mortgage balance.

Application Process:

  • Homeowner receives Certificate of Eligibility from SOHAZ to take to lender. See alist of participating lenders.
  • Lender pre-approves customer for HARP 2.0 refinance.
  • Customer completes SOHAZ online Self-Assessment & Application.
  • Counselor completes credit counseling and collects any missing documents.
  • Simultaneous close with HARP 2.0 refinance.


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Don't let time slip away. Take action today.  Foreclosure is NOT an option!
Call Jessica Sulliman Phoenix Arizona Short Sale Agent for a confidential phone interview to go over your options to avoid foreclosure at 602-677-7977. 

Stop Foreclosure- Learn Your Options. Maybe a short sale is your best option. 

Maybe the bank will PAY YOU to short sell your home! We may be able to help you avoid foreclosure.


*Seek competent legal counsel and tax advice for any real estate transaction. Jessica Sulliman and Ashby Realty Group are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.*

About the Author...

This article  was provided by Jessica Sulliman, a Nationally recognized Realtor and Certified Short Sale & REO Specialist.  Jessica can be reached via e-mail at or by cell phone or text message at 602-677-7977. Jessica has helped hundreds of people buy and sell their home.  For Arizona real estate and homes see or

Ashby Realty Group handles Arizona real estate sales, Arizona short sales, Arizona strategic short sales, Arizona pre-foreclosure sales, and Arizona foreclosures in the entire metro Phoenix area.  We specialize in the East Valley: Queen Creek, Gilbert, Chandler, Mesa, Scottsdale, Paradise Valley, Apache Junction, Gold Canyon, Tempe, Florence, San Tan Valley,  Ahwatukee, Anthem at Merrill Ranch resort community in Florence AZ. Serving all of Maricopa and Pinal counties Arizona. Arizona Short Sale Realtor. Short Sale Arizona 

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Comments (2)

Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

This is important information to share and may help some home owners save their home.

Aug 14, 2012 01:11 PM
Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin



Very good information thanks for sharing it. Have a great week. 

Aug 14, 2012 01:14 PM

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