The Real Estate Encyclopedia
Hope for Homeowners Act
Category - Government Agencies - Federal Bodies
HOPE FOR HOMEOWNERS, Act signed by Pres. Bush on July 30, 2008

Purpose- The purpose of the HOPE for Homeowners Program is--

a) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;

b) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;

c) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;

d) to target mortgage assistance under this section to homeowners for their principal residence



External Links
http://www.hopeforhomeownersprogram.org/the-details/
 
 
Category(s)
Mortgage Questions - Mortgage Loans FAQ's
Government Agencies - Federal Bodies
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