The FHA HOPE for Homeowners program was the original FHA program that was designed to allow underwater borrowers to refinance into an affordable FHA loans, IF lenders agreed to principal reduction. (Program requirements from HUD's regulations can be found HERE).
As my earlier post indicated HUD has said that they have endorsed a TOTAL of 167 HOPE for Homeowner loans in FY 2010 and through November of 2010. I have gone back into the relevant FHA databases and extracted data for 150 of those loans (data indentifying the remaining 17 loans is NOT in the earlier FHA databases).
I have prepared a table HERE showing the state location of these loans.
Two Initial Observations
- Oregon had ZERO H4H loans,
- 10 states accounted for 70% of all H4H loans.
More observations to follow ...
Originally created and posted on the Oregon Housing Blog.
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