Housing and Economic Recovery Act

HUD Relaxes Hope for Homeowners Requirements 

With fewer than 100 applications for FHA loans through Hope for Homeowners since the program’s effective start date of Oct. 1, it was clear some “meaningful changes” were needed. The U.S. Housing and Urban Development secretary Steve Preston on Wednesday announced that the Hope for Homeowners (H4H) Board of Directors has approved changes to the program to help more distressed borrowers refinance into affordable, government-back mortgages.