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“Hope For Homeowners” Mortgage Aid Program Launched October 03, 2008 If you are struggling to keep up with your mortgage payments and your mortgage exceeds your home value the new “Hope For Homeowners” program may be a way for you to keep your home at an affordable monthly mortgage payment. |
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June 24, 2008
"This letter might be the most important piece of mail many of these families will receive all year," said HUD Secretary Steve Preston. "This information could not only help save their current home, it could help provide them with long term financial security. This outreach campaign will ensure families are aware of the safe mortgage alternative offered by FHA."
Alternatives To Avoid Foreclosure
June 09, 2008
With June being National Homeownership Month, keeping homeowners in their home has become a hot topic amongst many government agencies. Since the mortgage meltdown began, a number of mortgage help programs have helped hundreds of thousands, if not millions, of homeowners avoid losing their home to foreclosure.
The Federal Housing Finance Regulatory Reform Act of 2008
Senators Chris Dodd of Connecticut and Richard Shelby of Alabama announced a 19-2 passage of “The Federal Housing Finance Regulatory Reform Act of 2008”. The new act includes extra effort to help stem the foreclosure crisis and to reform regulations of Fannie Mae, Freddie Mac and the Federal Home Loan Bank system.
American Housing Rescue and Foreclosure Prevention Act
The U.S. House of Representatives passed the American Housing Rescue and Foreclosure Prevention Act on May 8th, 2008. The new act would help those facing foreclosure refinance into an affordable FHA mortgage and would make homeownership more affordable for first time homebuyers.
FHA Secure Modifications
The Bush Administration has approved modifications to the FHA Secure program that will help even more struggling homeowners while reducing the risk to tax payers.
"Keys To Recovery"
Fannie Mae plans to announce a new series of initiatives called “Keys To Recovery” on a conference call with investors and analyst. The new effort consists of providing solutions to help homeowners avoid foreclosure, and helping 1st time homebuyers with purchasing a home.
Bush Administration Expands FHAsecure to Offer More Assistance and Financing Aid to Homeowners Facing Foreclosure
Bush administration is expanding a government program to help homeowners head off foreclosure as it scrambles to counter Democratic calls for a broader federal housing rescue.
House Committee to Hold Hearing on Economic, Mortgage and Housing Rescue Bill
House Financial Services Committee Chairman Barney Frank announced today the committee will hold a hearing on the economic, mortgage and housing rescue plan he announced last week.
Federal Housing Administration Encourage Lenders To Forgive Mortgage Debt
A new mortgage aid program, which the Bush administration is finalizing, would call for mortgage lenders to forgive a portion of a homeowners’ mortgage debt in exchange for the financial backing of the federal government.
“Project Lifeline” The New Government Backed Mortgage Relief Program
Six major banks making up half of Americas mortgage loans have joined a government backed mortgage relief program that will halt the foreclosure process for up to 30 days while lenders try to work out a payment plan that is in the best interest of the homeowner and the banks.