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10/23/2008 - Foreclosure Assistance - A Starting Point

There is a new government assistance program, the HOPE for Homeowners Program, that went into effect on October 1, 2008.

The HOPE for Homeowners (H4H) program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans.

The program lets troubled homeowners swap their mortgages for traditional 30-year fixed rate mortgages , but only if lenders agree to reduce the value of a loan and take a loss.

Click here for detailed information on the program or here for an FHA recommended, user a friendly, web site for free assistance. Or call toll free 888-995-HOPE.

Sent to News Alert subscribers 10/23/2008 4:50 PM

Update - This program has it's problems and does not seem to be helping many people. But the good news is that a lot of other options are becoming available. So, the best advice I can give at this time is to contact your payment processor to determine the options that are available to you.

Peter Schulz - Editor - Email M

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