www.995Hope.org President Bush proposal for helping foreclosure threatened families
December 9th, 2007 . by Mike KellyListeners, This is the web site we spoke of this morning for helping those meeting the rather strict guidelines for the program President Bush put forth this week. You can also call: 888-995-4673 (HOPE). Here are the guidelines:
For a rate Freeze the following conditions must be met:
* The house must be the borrower’s primary residence
* Candidates must hold a subprime adjustable rate mortgaeg with an initial fixed period of three years or less
* Mortgages must have originated between Jan. 1, 2005, and July 31, 2007.
* The initial interest rate will reset between Jan. 1, 2008, and July 31, 2010.
* The monthly payment is scheduled to increase by more than 10 percent at first reset.
* The borrower must be current on loan, which means not more than 30 days delinquent, and not have had more than one 60 -day delinquency in the past 12 months.
* The borrower must have a credit score (FICO) BELOW 660, and it can’t have risen more than 10% since laon origination.
* If the borrower’s FICO score does not meet the above criteria, the loan servicer will look at income and debt obligations and review requests case by case.
For More Information: A government-organized cooperative effort between counselors, investors, and Lenders. Credit counselors are available at (888) 995-HOPE (4673) Web: www.hopenow.com
FHA Secure: Government-insured refinancing for credit worthy borrowers who went into default after their ARMs reset. This is for confirming loans of $417,000 or less. (800)CALL-FHA (225-5342) Web: www.fha.gov
I bought a house and I am at risk of loosing it because I’m paying high interests. This month I don’t know if I’m going to be able to pay the mortgage. Is there something you can do for me?
I will be waiting for an answer. Thanks
Our rate went up to 9.000 % making our payment to 2,500.00 monthy that is to high for us. Please help. My Phone No is 713-299-3821 Account Loan 7440654135
I would like more info Please. Thanks!
hi can you give me more information ?
I went thru this and fall into all the critera mention in the bill and from CCCS i got this answer on freezing my mortgage rate. “GET A SECOND JOB”. Wondering how I am to do this when I work shift work 12 your days and 1 week 4 days the next 3 and it changes every month from weekend shift to weekday shift. They need to research President Bushes HUD credit counseling agency. Not worth my time.