H.O.P.E.

The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they currently cannot afford. Under the program, certain borrowers facing difficulty with their mortgage will be eligible to refinance into FHA-insured mortgages they can afford. The program will be implemented on October 1, 2008. Homeowners May Already Be Eligible For Assistance Families should not wait to seek mortgage relief. Right now, homeowners can determine if they are already eligible for mortgage assistance through FHASecure, FHA's existing refinancing program. They can obtain information through any of the Hope for Homeowners maintains FHA's long-standing requirement that new loans be based on a family's long-term ability to repay the mortgage. FHA only allows o

New Study Shows Millions Underwater For A Decade!

So Where Is The Hope For Homeowners? I share information like this with you not to depress you but, impress upon you the importance of understanding what is really happening with this housing market. There won’t be any sort of fast bounce back for housing. There is every reason to believe that we are in a long term real estate cycle that will be dominated by underwater homeowners, Short Sales and Bank Owned homes (REOs). Share this facts with your community…let our colleague fellow investors know the reality of the housing market. If you know of homeowners who are considering of doing strategic default, its YOUR...

posted @ Friday, April 09, 2010 12:29 PM | Feedback (0)