HOPE Government Lending Program

I just got through emailing Fred and I'm sure he will be getting me all the answers, but I thought I'd put this out there for ya'll and see what kind of advice and feedback I get. We need all the help we can get!

Hi Fred.

Hey, I received a call last night from a dear friend. Her mortgage is getting ready to go variable. Her rate now is 8-9%. She says she can't afford the payments due to medical bills, etc. You know the story!

She said she's ready to walk and abandon the home. She isn't upside down as she only owes $136K and the house is probably worth as-is about $150-175K. I haven't done a CMA yet.

I was wondering if this HOPE program would work for her. I understand and told her that she would be giving up 50% of appreciation when she decides to sell and I don't think she cares. She would love to save her home and not move.

Have any suggestions? Oh, her credit rating is terrible.

Love to have your insight on the HOPE program. Or any other programs you think may work for her family.