FHA To Assist Delinquent Home Owners

By
Real Estate Agent with Benchmark Realty TN 288457

From Bankrate.com 9/12/2007

The following link explains in great detail the FHA program to help delinquent but credit worthy home owners refinance and avoid foreclosure. I will admot that as an opponent to government intervention in most any situation this will be at least a way of improving public confidence.

http://bankrate.com/brm/news/mortgages/FHA_bailout_a1.asp

After reading the article tell us what you think about the plan!

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Rainer
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David Petrovich
S.P.O.C.H. a 501c3 Charitable NP - Oakhurst, NJ

IMHO, this is corporate welfare in disguise.  Not so much to aid distressed borrowers as it is to change tax law to enable the profiteers to protect their bottom line by avoiding taxes arising from loan mods....  The 80,000 well qualified homeowners who may be able to have their high ARMs refinanced are a drop in the bucket compared to the two million or so who will face foreclosure and be unable to wriggle to safety.

 

Sep 15, 2007 06:45 AM #1
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Rainmaker
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Paul Moye

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