Know the difference between Obama’s Making Home Affordable Program and the Hope for Homeowners Program
With the new incentives for mortgage refinancing and loan modifications coming into existence since Barack Obama signed off on the new rescue plans for homeowners facing difficulty with their mortgages in the wake of the finance industry’s near collapse, it can be quite confusing as to what is what in the mortgage refinance world.
One thing you should know for sure is that there are differences between the mortgage refinancing program from Obama’s initiative “Making Home Affordable’ and an earlier initiative that came from George Bush the ‘Hope for Homeowners’ program.
Hope for Homeowners Program
This program is administered by the Federal Housing Administration and its key features are as follows: (more…)
