The Senate voted this week to give a $15,000 tax break to homebuyers in an effort to stimulate the economy and revitalize the housing industry. The proposed bill would allow homebuyers a 10% tax credit, up to $15,000 on the value of a new or existing home purchase. The current law allows for a $7,500 tax break only for first time homebuyers.

Dear Friends:

  I want to tell you that our law firm is helping people who are having a hard time paying their mortgages. We have successfully obtained forbearances from national lenders so that there is time to renegotiate the rate.

 There are a number of ways to combat foreclosures.

 The servicing companies that institute foreclosure proceedings often cannot easily find the original note and transfer documents.  As a result, judges in some courts across the country have refused foreclosure.

 We know of one case in Dallas that was dragged out for ten months while the servicer failed to find the proof that they had the right to foreclose.

 In addition, the servicers can be challenged under common law fraud and a variety of consumer protection statutes, including the Deceptive Trade Practices Act and the Truth in Lending Act.  As a result, homeowners can receive offsets for owed balances.

 In emergency situations, we will file temporary restraining orders when necessary to stop a foreclosure.  If you or anyone you know has a loan that is a hardship, please call or email me. We may be able to reduce your rate to 5 percent or less while also getting you some breathing room.

 Tell your friends, family and clients not to file a bankruptcy or let purported lenders take their homes, until they have contacted our firm.

 Truly yours,

 Geoff J. Henley

 HENLEY & HENLEY, P.C.

LANDAMERICA TITLE

2205 N. Henderson Avenue

Dallas, Texas 75206

(214) 821-0222

(214) 821-0124

"HOPE FOR HOMEOWNERS -new changes will allow struggling families to use the program and keep their homes was announced by the Bush Administration.

With many families in the midst of financial mortgage crisis, the approved changes will help more distressed borrowers refinance into affordable, government backed mortgages. Hope For Homeowners will provide additional mortgage assistance by:

Increasing the loan to value ratio (LTV) to 96.5 percent for some H4H loans;

Simplifying the process to remove subordinate liens by permitting upfront payments to lien holders; and

Allowing lenders to extend mortgage terms from 30 to 40 years.

HOPE FOR HOMEOWNERS will continue to only offer affordable, government-insured fixed rate mortgages.