Hope for Homeowners- A great opportunity!

To date, this has to be the best solution for struggling home owners who are facing foreclosure! Hope for Homeowners is the program we have been waiting for. The program will let hundreds of thousands of homeowners trapped in mortgages they can't afford on homes that have decreased in value escape foreclosure by refinancing into a more affordable, fixed-rate FHA loan.

Affordability vs. value: The current lenders will take a loss on the difference between the existing lien and the new loan, which is based on 90% of current appraised value. The lender may choose to provide homeowners with an affordable monthly mortgage payment through a loan modification rather than accepting the losses associated with declining property values.

Borrower eligibility: Lenders that determine the H4H program is a feasible and effective option for mitigating losses will assess the homeowner's eligibility for the program:

* The existing mortgage was originated on or before January 1, 2008;

* The existing mortgage payment(s) as of March 1, 2008 exceeds 31% of the borrowers gross monthly income;

* The homeowner did not intentionally default, does not have an ownership interest in other residential real estate and has not been convicted of fraud in the last 10 years under Federal and state law; and

* The homeowner did not provide materially false information (e.g., lied about income) to obtain the mortgage that is being refinanced into the H4H mortgage.

Details are still arriving daily on the "How, What and Where" of this program, and I am in line to get that information.

If you, or any of your family and friends have any questions on this program, or others, Call me today to discuss your situation.


Please forward this to anyone you know who might benefit from a consultation.

Cindy Tomlinson
Loan Officer
USLending Company

530-722-3150 Office

Email- cindy@uslendingcompany.com
or visit my website: www.realestateloanca.com