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What's New
GREAT NEWS --------- HELP FOR HOMEOWNERS WHO ARE “UPSIDE DOWN” HR-3221 was recently signed into law by President Bush. One of the key provisions of HR-3221 is the “HOPE FOR HOMEOWNERS” program which can help homeowners who are currently “upside down” and owe more than their home is now worth. The program is still in formation – The Secretary of HUD, Secretary of the Treasury, and other’s, are currently working on the specific details of the program – the program is due to go into effect October 1, 2008. This program will allow an existing lien holder to “write down” mortgages to 90% of the current appraised value, for mortgages originated prior to Jan 1, 2008. The “written down” amount will be FORGIVEN – NO repayment will be necessary. FHA will provide an “insurable” loan and share the future equity of the property with the homeowner. The homeowner will deal directly with the existing lien holder. Specific eligibility requirements apply. If you or someone you know may benefit from this new program – Contact your existing lien holder for more information and to see if you qualify for this program.
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Monique Peace 2121 Rosecrans Avenue 6th Floor El Segundo, CA 90245 Phone (310) 476-7931 Fax (310) 362-8829 State Licensing Information |
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