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adjustable rate mortgage: Will the HOPE NOW program really assist all who need it? - 12/09/07 06:47 PM
The recent release of the HOPE NOW program by President George W. Bush asserts that up to 1.2 million homeowners could be assisted by the program Treasury Secretary Henry Paulson and Housing and Urban Development (HUD) Secretary Alphonso Jackson to work with lenders, loan servicers, mortgage counselors, and investors on an initiative to help struggling homeowners. 
Will it really assist that many homeowners?  Is this program enough?
The program has three prongs to assist homeowners:
1)      Refinancing into a new private mortgage;
2)      Move into an FHASecure loan;
3)      Freezing of current rates for five years.
The requirements to participate in the program is fairly stringent, and … (2 comments)

 

Michael Sally - Victory Lending Group

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