Saturday, March 22, 2008

The "Hope Now" Hotline

"Hope Now" is the project that the Government has set up to help homeowners heading to forclosure due to variable rate loans that have set to payments the homeowner is unable to afford.

The Hope Now hotline is staffed 24 hours a day, 7 days a week for homeowners who are having trouble keeping up with mortgage payments.

The free service helps borrowers contact lenders to try to work out a payment plan or modify their loan. While there are no eligibility guildines, not all callers will be able to negotiate new terms or avoid the sale of their home.

Other housing groups and counseling agencies also working with homeowners at risk. Make sure whomever you're dealing with is certified by the Department of Housing and Urban Development or the National Foundation for Credit Counseling.

Hope Now hotline 1-888-995-HOPE

Homeowner Crisis Resource Center 1-866-557-2227

Jennifer Bunker CRS GRI
Utah Real Estate Broker