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NetMore America Chief Strategy Officer Lisa Schreiber named keynote speaker for 12th Annual Mortgage Technology Conference

National Mortgage Professional
Dec 03, 2008

NAHB: Builders applaud changes to HOPE for Homeowners programMortgagePress.comNAHB, HOPE for Homeowners, HUD, Steve Preston, Sandy Dunn, Housing and Economic Recovery Act of 2008 The National Association of Home Builders (NAHB) applauded changes to the HUD HOPE for Homeowners program that will allow more distressed home owners to take advantage of the program which was designed to prevent foreclosures and keep families in their homes. The modifications announced this week by Housing and Urban Development Secretary Steve Preston are also expected to make the program more appealing to lenders and to make homeownership more affordable for the owners. "These changes will allow HOPE for Homeowners to reach many more troubled mortgage borrowers," said NAHB Chairman Sandy Dunn, a home builder from Point Pleasant, W. Va. "In particular, increasing the mortgage loan-to-value ratio, which will reduce the required write-down of principal, and allowing owners to refinance from 30- to 40-year mortgage terms will make more owners eligible for the program and help make homeownership more affordable so that families can stay in their homes." The HOPE for Homeowners program was authorized by the Housing and Economic Recovery Act of 2008. Although the programs purpose is to help prevent foreclosures and keep families in their homes, borrowers must meet a number of qualifying criteria including the Federal Housing Administration's long-standing requirements for fully documenting income and employment. For more information, visit www.nahb.com.
Published
Dec 03, 2008
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