If I’m told if we let our home go into foreclosure we will get help from the HOPE program, what are our options?
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If I’m told if we let our home go into foreclosure we will get help from the HOPE program, what are our options?
Asked on February 23, 2012 under Real Estate Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The HOPE program was enacted in 2008 to help stabilize real estate prices in the United States by offering select homeowners fixed real estate loans. Before you allow your home to go into foreclosure, I encourage you to consult with a real estate attorney who practices law in the area of home foreclosure.
Possibly such an attorney can assist you in evaluating what to do regarding the HOPE program or some other program if you want to save your home. I understand that there is a new program coming out where one can refinance his or her property at 110% loan to value on a fixed rate where the loan's interest rate is simply changed for a lower amount.
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