What kind of relief for homeowners at risk of foreclosure is available under recent laws passed by Congress?
The Housing and Economic Recovery Act of 2008 created the HOPE for Homeowners (H4H) program, which will provides a way for some borrowers to refinance their mortgage. Homeowners should talk to the lender from whom they receive their monthly mortgage statements to determine whether they might be eligible for this program. This measure also provided additional resources to HUD-approved, housing-counseling agencies to help them respond to increased demand for their services from homeowners struggling to pay their mortgages.
