May 27, 2009
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Foreclosure, Government Program, Initiatives, Legislation, Mortgages, New Developments

New and Improved HOPE for Homeowners

The HOPE for Homeowners (H4H) program provides refinancing for qualifying homeowners into new, government-guaranteed FHA mortgages with fixed rates and terms of 30-40 years, but has been little used due to onerous restrictions. The Helping Families Save Their Homes Act of 2009, which became effective in 2009, modified H4H in the hope of making it […]

May 17, 2009
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Foreclosure, Initiatives, Mortgages, New Developments, Short Sales

Short Sales May Become Practical

It’s been very difficult to get banks to agree to short sales (in which a home sells for less than the balance on the mortgage). This leaves a homeowner who has financial problems only three options: pay the mortgage as written; try to obtain a deferral or reduction in interest amount, perhaps using the Obama […]