New law may save your house

A new law signed by President Bush that will go into effect on October 1, 2008 was created to assist homeowners struggling to pay their mortgage.

According to HUD's website, homeowners having trouble paying their house payments should contact the appropriate counseling agency. The contact information is:

• HUD.gov
• HOPE NOW Alliance at (888) 995-HOPE
• FHA 800-CALL-FHA

The program is designed to slow the rate of foreclosures in hopes of stabilizing the country's housing market.

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- Greg Staker - Watson Realty Corp. 407-304-0255

You don't have to suffer in silence. You don't have to lose your home.

Those are the poignant opening remarks of Alphonso Jackson, Secretary of Housing and Urban Development to Chicago Mayor Daley today at a homeowner outreach program.

He further went on to offer hope for those facing foreclosure through FHASecure and the Hope Now Alliance. His efforts to reach out to those who are in trouble were summed up with these words.

“There are many options; many sources of assistance. But, surprisingly, many people still treat foreclosure as inevitable. I am troubled by the fact that there is so much denial...that many homeowners facing foreclosure will not call their mortgage lenders for help...that some won't seek any help at all.”

His remarks should not be ignored. While I do not have all the information concerning the 2 programs he mentioned to help those in trouble, I can direct you to those who do. Don’t lose your home without a fight.

Mr. Jackson’s words can be read in full here.


Related Florida real estate views:

Impact of foreclosure on families

Mr. Postman look and see if there is a letter from FHA for me.

Foreclosure affects families


- Greg Staker - Watson Realty Corp. - 407-304-0255