HUD Modifies HOPE Program to Assist More Borrowers

re: HUD Modifies HOPE Program to Assist More Borrowers

maria blackburn — Thu, 15 Jan 2009 20:23:24 GMT

I have been speaking to several wholesale reps and none of them can offer the program yet but, they say that they are working on it.

re: HUD Modifies HOPE Program to Assist More Borrowers

Anthony Freed — Fri, 21 Nov 2008 05:46:18 GMT

Thes loans are still to the benefit of the lender, and predatory to the borrower - 96% on a 40 year term does not an affordable mortage make - high DTI's are part of what got us into this mess.

http://yourmortgageoryourlife.wordpress.com/2008/10/27/no-hope-for-homeowners-foreclosure-prevention-program-falters/

And is this from a new appraisal? Or is this based on the principle from the loan being modified?

Sounds like more hot air.

re: HUD Modifies HOPE Program to Assist More Borrowers

marc — Thu, 20 Nov 2008 20:35:30 GMT

This program still has some flaws in it. H4H was framed using a default rate 48% IMHO this is over kill and the reason for high risk MI pricing. There is not enough incentive for a lender to write down to 90 or 96% fo the current appraised value. I attended a H4H conference in atlanta this past weekend and am boned up on the program. Feel free to contact me @ marc@mrsfunding.com

re: HUD Modifies HOPE Program to Assist More Borrowers

Patrick Penner — Thu, 20 Nov 2008 18:53:26 GMT

Does one know if this program will be offered on a wholesale level?

Thanks!