Hope Now Alternatives - Home Owners With Subprime Mortgages

Hope Now is a mortgage industry alliance assisting homeowners in distress.

Members of this alliance have proposed 3 ways to help American homeowners avoid foreclosure.

1. Refinance an existing subprime mortgage into a new home loan.

2. Extend current interest rates for 5 additional years, the 5 Year Freeze.

3. Move subprime mortgages into the FHASecure program.

Encouragement From President Bush

"For individual homeowners, the subprime mortgage problem is more difficult. Many of those feeling financial stress have an adjustable rate mortgage, which typically starts with a lower interest rate and then resets to a higher rate after a few years.

Many of those borrowers cannot afford the higher payments. And now some are fearing foreclosure - which is a terrible burden for hardworking families and a source of concern for entire communities and neighborhoods across our country.

Hope Now members have agreed on a set of industrywide standards to provide relief to these borrowers in one of three ways: by refinancing an existing loan into a new private mortgage, by moving them into an FHA Secure loan, or by freezing their current interest rate for five years." --George W. Bush, December 2007

Seven Questions To Ask Hope Now

1. How do I know which option Hope Now is best for me?

2. Can my interest rate adjust at any time in the future?

3. Will my monthly payment remain the same?

4. Are there any prepayment penalties?

5. Am I required to refinance in the future?

6. Will any deferred interest be added to my mortgage balance?

7. Do these options cost me?

So homeowners, contact Hope Now. Or call the toll-free hotline at 1-888-995-HOPE. Be encouraged. Homeowners in distress can have a new beginning.

The greatest American dream is to own a home and be a home owner. If you've been enjoying my website, you know I say... It's your home and your mortgage. No one cares more about it than you!

Just incredible! FHA Secure has recently revised their Frequently Asked Questions. This is an important update for homeowners that you won't want to miss!

You'll also find a wealth of information at Kate's Best Mortgage Rate Blog packed with the latest additions to this website, interest rate updates and a fresh approach to real estate and mortgages.

More Hope Now Tips From Kate Ford

Are you behind on your payments now? Have you received a notice of default? Don't give up. With a little knowledge, you can Stop Mortgage Foreclosure.

Foreclosure Help is available. Act now if you think you are going to be late on a mortgage payment.

If you anticipate being late on a mortgage payment, here's help for locating your lender to Stop Foreclosure Now.

By understanding your Adjustable Rate Mortgage, you can anticipate interest rate adjustments and plan for increases in your mortgage payments.

When promises to Sell Your House seem too good to be true, remember this fact. It is possible to sell a house and remain legally obligated on the mortgage. Find out more here.

A limited offer, Mortgage Debt Relief provided help for homeowners subject to additional income taxes.

Members of the Hope Now alliance propose 3 ways to help American homeowners avoid foreclosure.

Here's how to explain to your lender that you are trying to Prevent Foreclosure.

The first step to stopping Foreclosure is understanding its impact on your life. Save Your Home! Save Your Life!

How to take advantage of the current mortgage crisis to Stop Foreclosure. Learn from Donald Trump about negotiating a better deal.

FHA Secure Revised FAQs alerted homeowners their eligibility was not dependent on late payments.

Subprime Mortgage Loans fulfilled an important role in America by increasing homeownership but eventually they created a trap for home owners.

You are invited to discover why every homeowner with a Subprime Mortgage needs a long term plan.

Subprime Mortgages - Here is a long term plan I used to help homeowners transition to traditional mortgage financing.

Can I do a Mortgage Loan Modification myself?" The answer is yes. But find out the first question you really should be asking.

Ask Kate About Loan Modification - Ask a question, get an answer from Kate.

Loan Modification Ask and Answer - A collection of questions regarding loan modification, Home Affordable Programs, HARP and HAMP, each with a individual answer from Kate.

Return to Get-Your-Best-Mortgage-Rate home page from Mortgage Loan Modification, Avoiding Foreclosure and Hope Now Collection

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