There is a lot of confusion about the FHA Secure, FHA Rescue program, and the Hope For Homeowners program. Our politicians like to use mirrors and smoke to confuse us. They change the terminology between one bill to another, and from the house to the senate. There is a secret code that "we the people" do not have! I don't know about you but I am tired of the smoke and mirrors!
The Government works for us and upon our command they should be transparent!! Let me not go here.
I have gone through the guidelines for the "Hope for Homeowners" mortgage and I don't think any thinking person would want this loan. We have been sold down the road. You can read the Hope for Homeowners Guidelines here.
After reading the H4H guidelines it made me think that the FHA Secure loan is really a much better deal but it expires on December 30, 2008. Not many people will qualify for this loan but you should try for it first because The H4H loan was designed by the devil and I would personally pass on it.
FHA Secure - FHA Rescue guidelines.
We Will Pull Through. Hang in there.