When FHA loan programs added, Hope for Homeowners, many people believed that this would stop the foreclosure crisis. Unfortunately the FHA mortgage lenders have not responded as hoped and the program is far from a success. Kelly Media Group president, Jason Cardiff said, “FHA needs to reevaluate the lenders associated Hope for Homeowners, because clearly they are hindering governments latest FHA refinance program.”
Don’t Get scammed by lenders pretending to offer foreclosure prevention or realtors offering short sale solutions because it won’t help your credit.
According to the recent FHA outlook report, and as anticipated in our recent post, the Hope for Homeowner program had no endorsements. In the last 2 weeks of November, there were fifty four Hope for Homeowner applications; down from the sixty nine applications in the first two weeks. Read more about the struggling H4H program here.
3 comments so far
[...] FHA has been ensuring fair lending with low rate home financing since 1934. The sketchy history, the Hope for Homeowners loans program (H4H) was passed in July and initially praised as a surefire method of promoting foreclosure prevention [...]
[...] and underwater borrowers without the need for a $300 billion expansion to the FHA program under the Hope for Homeowner [...]
[...] looks like FHA will continue to pumps up the Hope for Homeowners program to help distressed homeowners who have been unable to refinance. This FHA refinancing [...]
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