75,000 closed home loans for HUD's FHASecureMortgagePress.comAlphonso Jackson, refinance, avoid foreclosure
U.S. Housing and Urban
Development (HUD) Secretary Alphonso Jackson announced that
HUD's FHASecure product has helped approximately 75,000 homeowners
refinance their mortgages and avoid foreclosure. FHASecure has
enabled thousands of families—who are current on their home
loans or past due because their teaser rates reset—to close
on loans refinanced through HUD's Federal Housing Administration
(FHA), which is backed by the full faith and credit of the
"FHASecure has given homeowners an opportunity to save their
American Dream without risking their financial future, and hundreds
of people are taking advantage of that benefit everyday," said
Jackson. "Over the past five months, FHASecure has helped about 500
families a day close on their new government-backed loans.
FHASecure remains on pace to offer refinancing to 300,000 families
by the end of this year who are making on time payments or cannot
afford their payments now that their teaser rates reset."
For more information, visit www.hud.gov.