HOPE for Homeowners - Schmidt Mortgage Center. Call us toll free: Monday - Friday. FHA Bailout - Hope for Homeowners program H4H program guidelines. The HOPE for Homeowners program helps distressed borrowers refinance into affordable, government-back mortgages insured by HUD's Federal Housing Administration (FHA). The program runs from October 1, 2008 until September 30, 2011. The Hope for Homeowners (H4H) program is a loan program that is offered by the FHA in order to provide help for distressed homeowners. Is the HOPE for Homeowners (H4H) program still available? The H4H Program was effective for endorsements on or after October 1. General Refinance Info; Grant Programs; Housing Counseling. NEW HOPE FOR HOMEOWNERS PROGRAM BEGINS ASSISTINGLENDERS AND HOMEOWNERS WITH. 2008 (EESA) or the Troubled Asset Relief Program (TARP), the HOPE for Homeowners (H4H) program administered by the Federal Housing. The Hope for Homeowners (H4H) mortgage program is a program that is provided by the FHA, or Federal Housing Administration. BUSH ADMINISTRATION ANNOUNCES FLEXIBILITY FOR HOPE FOR HOMEOWNERS PROGRAM. 08-178 1 (800) 225-5342. The Mortgage Center, a division of Schmidt Mortgage Company, with expertise in FHA HOPE for Homeowners, FHA Refinance, and VA Refinance mortgages. What is the HOPE for Homeowners Program (H4H)? The HOPE for Homeowners act was created to help protect qualified homeowners from foreclosure by preventing loan defaults. ESTSaturday. HOPE for Homeowners. Frequently Asked Questions. What is the HOPE for Homeowners Program (H4. H)? This new program, created by Congress, is intended to help borrowers at risk of default and foreclosure refinance into more affordable loans. How can the H4. H program help me? If you are having trouble making your mortgage payments, this program may allow you to refinance your loan into a new 3. Do I have to pay anything to apply? There will be closing costs associated with HOPE for Homeowners loans. Please consult your Mortgage Loan Officer when you apply. What information do I need to apply? Information needed for refinance process is based on your individual situation, but at a minimum you will need evidence of your income and assets, as well as your current mortgage information. Please consult with your Mortgage Loan Originator when you apply foryour H4. H refinance as interest rates are based on current market rates. I don't want another adjustable rate mortgage. Will this interest rate be fixed or adjustable? All HOPE for Homeowners loans are 3. Federal Housing Administration (FHA). My lender has started foreclosure proceedings. Can I still apply for H4. H? Yes, however, time is of the essence. Is there an income requirement? You must be able to prove current employment and meet the income requirements of the H4. H program. I recently filed for bankruptcy. Am I still able to apply for H4. H? Yes, borrowers in bankruptcy may participate; however, you will want to consult with the person handling your bankruptcy. I have a first and second mortgage on my home. Can I still apply for H4. H? Yes, however, all your existing lenders must agree to release the liens against your home. I am current on my mortgage. Can I apply for H4. H? Yes. Please note that the first payment on your H4. H mortgage will be due at closing, regardless of your present mortgage status. I am not clear on what to do. How do I decide if this is the right choice for me? You can contact a HUD- approved Housing Counselor in your area. They can help you evaluate the different options that may be available to you, and help you determine your best course of action. Your Mortgage Loan Originator will be happy to assist you by locating a HUD- approved Housing Counselor in your area or you may go to http: //www. You can also call (8. HUD- approved Housing Counselor. How can a housing counselor help me? Housing counselors are knowledgeable about available programs to help struggling homeowners. They can review your specific situation, identify your options and help you make an informed decision. Will I have to pay taxes on the portion of my loan(s) my current lender(s).
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