I have many desperate homeowners coming to my office begging for ways to save their homes.  Often times the homeowners qualify under the published criteria for the hyped Hope For Homeowners program also called H4H by the FHA.  The program, passed by Congress in July 2008 was to save the homes of 400,000 homeowners.  So far only 300 or so have applied!  Why?

The program was to start October 1, 2008.  That was pushed back to December 1, 2008 and then December 15, 2008.  The program went through a major re-write to loosen qualification criteria and to give existing lenders a bigger dollar payoff.

Today is December 17th and as NPR reports, the program is a complete failure with not a single loan having been made - or likely to be made.  Listen to the audio report from All Things Considered for the interesting details.

Those that have visited me to hopefully avoid a short sale or foreclosure on their home are devastated. 

Copyright 2008 Richard P. Zaretsky, Esq.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make.  This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660  RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide!  Shortsales@Florida-Counsel.com  New Website www.Florida-Counsel.com.  See our easy to find articles at TABLE OF CONTENTS - RICHARD ZARETSKY SHORT SALE ARTICLES