Treasury Loan Modification Announcement: Seconds Now In; FHA HOPE For Homeowners Refinance Must be One of Options Considered.

Still digesting the announcement, but it is HERE.

Here's additional second lien information:

• Second loan program fact sheet is HERE
• Second loan program examples are HERE.

Here's text of FHA HOPE for Homeowners portion of announcement
"Under the changes announced today and, when evaluating borrowers for a Home Affordable Modification, servicers will be required to determine eligibility for a Hope for Homeowners refinancing. Where Hope for Homeowners proves to be viable, the servicer must offer this option to the borrower.

To ensure proper alignment of incentives, servicers and lenders will receive pay-for-success payments for Hope for Homeowners refinancings similar to those offered for Home Affordable Modifications. These additional supports are designed to work in tandem and take effect with the improved and expanded program under consideration by Congress.

The Administration supports legislation to strengthen Hope for Homeowners so that it can function effectively as an integral part of the Making Home Affordable Program.