This program offers struggling homeowners an opportunity to refinance their upside-down mortgages to a principal amount closer to current market value. It was signed into law and is effective as of Oct. 1, 2008. It seems like it could get sticky since the lender has the power to decide if they want to participate.
At any rate, I have heard very little media buzz about this program. If you have had any experience with this program, please share in the comments section.
Below are two links on the HUD website describing the program.
Fact Sheet
FAQ
Monday, November 3, 2008
Hope for Homeowners Program
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment