U.S.A Today featured a story regarding a program aimed to get mortgages under control for homeowners caught in the current financial crunch. If you feel you are facing foreclosure, it’s worth looking into.
The program is called “Hope for Homeowners”, and it’s sponsored by the FHA. If you qualify, you get an instant 10% equity in your home, and they restructure your payment. To qualify, you have to have a mortgage payment that is 31% or more of your monthly income.
Click here to be directed to the USA Today article