The Real Estate Encyclopedia
Hope for Homeowners Act
Category - Mortgage Questions - Mortgage Loans FAQ's
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
Mortgage Questions - Mortgage Loans FAQ's
Government Agencies - Federal Bodies
Home   |   About Us   |   Contact Us   |   Patrons   |   FAQ's   |   Site Map
© 2008 - All Rights Reserved.
Thank you for visiting Real Estate Wiki - the leading dictionary, directory, encyclopedia and glossary for the real estate and mortgage industries .