By: Robert J. Harris
The Hope for Homeowners (H4H) program was created by Congress to help homeowners at risk of default and foreclosure refinance into more affordable, sustainable loans. It starter October 1st, 2008, so its up and running and able to refinance troubled loans.
If you are having trouble making your mortgage payments, Hope for Homeowners may be able to get you a new 30-year or 40-year fixed-rate loan with lower payments. There are some strict requirements for eligibility. However, the government estimates that up to 400,000 people may be eligible for these loans.
Unfortunately, its been reported that some lenders aren't up to speed on this program.Regardless, if you are struggling with your home loan, you must check out the H4H program.
More information here. And, if you require additional assistance, please call and see one of our experienced real estate lawyers.