To understand what the Hope For Homeowners Program is and why it can be such a valuable tool to American Homeowners we need to focus on the basic terms of the agreement.

• The FHA will insure 96.5% of the property value as of today. This means that what the home was purchased for, or appraised for two years ago, has nothing to do with it. Only today’s market value is considered. Typically this means that the lender will have to take a 20-30 % loss. For example if you bought your home two years ago for 300,000 dollars and the housing market has dropped by 20% then your lender would be looking a loan in the amount of 96.5% of 240,000. In the end your lender would be accepting a 65000 dollar write off!
• The interest is set by the lender. typically 5-8% is the norm
• These loans are 30-40 year term mortgages
• There are three main homeowner restrictions:  The Homeowner must live in the home. You can not do this with a speculative property. You must have purchased the home before Jan 2008. Finally the monthly mortgage payments must be more then 31% of your income.

These are just the basic terms of the Hope For Homeowners Program. If so far as you read this article you are saying to yourself that this criteria and program could very well be a winner for your individual situation then you should probably read into this program further, perhaps visiting a resource like Hope N Homeowner. Hope ‘N Homeowner is an on-line Homeowner resource that is meant as a non-biased resource for Homeowners in or near foreclosure. It is a foreclosure guide that helps Homeowners navigate their way through the scary and confusing world of foreclosure. It highlights all sorts of foreclosure solutions and foreclosure alternatives. It provides reviews of foreclosure prevention services as well as do it yourself programs. Hope ‘N Homeowner pays close attention to the Hope For Homeowners Program and puts a heavy emphasis and focus on it. Hope ‘N Homeowner will even help you determine whether or not you qualify. This can be an excellent service if you are a homeowner who is seriously considering the Hope For Homeowners Program. It can really be an aid by helping you navigate between all the thousands of detailed criteria that must be considered. The Hope For Homeowners Program is as detailed and time consuming as it is a great deal for Homeowners. You will have to work for it.

If you are interested in finding out more, then you need to visit the Hope N Homeowner website…..

www.HopenHomeowner.com

I am just thankful for the Foreclosure Prevention services available at the Hope ‘N Housing Organization. I just wish I could have found them before I signed up for that god awful 2500 dollar lawyer scam. I hope I can prevent other homeowners from making the same mistake.

Before I forget I understand that the Hope ‘N Housing Organization now has a new website

www.HopeNHousing.org

I am a VA resident that came very close to losing my home.

I can not begin to describe the fear and hopeless despair I experienced for those dreadful three weeks that began early October. I received a foreclosure notice informing me of the Sale of my home in 28 days. I remember feeling panic, anxiety, and most of all emptiness. I knew it was coming, But some how I never really thought the day would come. I Felt nothing but failure.

I decided to call my lender Saxon. WOW!!! That is like taking a plastic fork to a brick wall.

Then I got on-line and that was more or less a never ending list of wasted advertisements, I called a few 1800 #’s but was unimpressed. There was nothing for me. There was no help.

Then a phone call, it was some older gentlemen who said he was with some firm in Richmond that used lawyers and special foreclosure solutions. He was half way convincing and I liked the idea of having a lawyer. He said they charged $2500.00 and I paid it… I got a call back 2 weeks later… My solution was bankruptcy. What a nightmare!!! I thought it was all over, But then I got a light gray,blue and white postcard.

HOPE ‘N HOUSING ORGANIZATION…

At first I started to get excited but then caught myself. I told myself it was probably just another scam.

Two days later I got another one that was identical, this time I realized they claimed to be a Charitable Organization. They were apparently a non-profit. I decided to call against my better judgment. A younger gentlemen on the other end of the line claimed they still had time. I told him that i already had another firm that actually used lawyers who could do nothing. He then sighed …”2500 huh..that’s an old scam” he replied, “there is a lot of those roaches out there” I felt a little foolish at that moment but also a little impressed and assured by the notion he knew the exact amount right away.

He then spoke again,”Listen to me, I know this can all be a nightmare…I know…But the fact is in four days Saxon is going to try and auction off your home. It will no longer be your home. You are going to have to get all your stuff and head over to aunt Elma’s before you start the rest of your new life, never owning a home again. That’s the best case scenario if you do nothing. But, if you let me, I promise to stop that auction and work out some agreement with your lender that will allow you to keep your home. I know you gave 2500 to some jerk off, only to receive advice you don’t need, but what we do is hard and we receive no where near enough funding to take care of all our expenses, so we have to charge the Homeowner a deposit to fund these negotiations. We need 880 via split pmt of 590 down today and 290 at a later date, or you can receive a discount  and pay 790 all at once.”

How do I know? is there a refund?

That is so beside the point! This is your Home. They are going to take your Home! You want to worry about a refund!

Well..

“I know I’m sorry, and actually, yes we offer a refund of 600. But honestly…Lets just get your home OK?”

“ok” I mumbled, he seemed so serious. I paid him.

Not 24 hours later he called me and gave me the greatest news I had heard in a long time. They saved my home. God bless that young man. just the other day they finalized the terms of my loan modification.

I will never forget those guys…Never.

1.888.696.5401

1.757.696.5400

www.hopenhousing.org

L.Peters