foreclosure bailout programs
foreclosure bailout bill, What are the lenders doing?
my home is worth $400,000.I owe $467,000 so my question is there such a program that would help…and what would it cost me and what are the requirements?
The program designed to help you was called Hope Now. It was a voluntary program which turned out to be a problem. Very few lenders use it.
Most lenders chose to offer you 6 months of no payments. Not free payments; the unpaid money would be added to the balance of your loan. This has helped people get thru a bad period; but it did not solve the underlying problem.
Right now the government is not offering you many options. Everyone is waiting until January..
