Does anyone know anything about BOA's "HOPE" program?

Profile picture for TeamTiller
A client of mine was recently turned down by BOA for a loan mod.  He tried to qualify for a short sale but they have told him he needs to try for the HOPE program approval first.  Does anyone have insight about this program and the pros and cons for a home seller?
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July 26 2011 - Denton
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Profile picture for StopForeclosureFraud
Hi Michael,
I work for a Real Estate Attorney in Northern Ca.

We specialize in Loan Mods and are working on the FHA Short Refi program however the homeowner needs to be current on the loan and the lender needs to participate in the program.  If we are not able to help the home owner stay in their home we can then offer a short sale and negotiate it for them at no charge.

So far most of our calls have been from Bank of America clients but I dont think they are participating voluntarily. 

Some other lenders are participating it is a case by case basis.

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August 31 2011
Profile picture for Michael Helton
You mean the "HOPE for Homeowners" program?  Home Owners Preserve Equity?  This is a link to the FHA site:

http://www.fha.com/hope_for_homeowners.cfm
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July 26 2011
 

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