Hi!

I know it's only been a day, but I thought it was worth posting again so soon because of the new program HUD has just rolled out called Hope for Homeowners.

If you go to www.hud.gov it has fact sheets that explain the details, but in short, this program is designed to help homeowners that want to stay in their homes, but can no longer afford the payments, but if they sell the home, it will have to sell through a short sale.

It is designed to work through your current lender, with HUD, to refinance your existing mortgage to 90 percent of the current appraised value through a new fixed 30 year FHA mortgage.  There are restrictions, of course.  It must be your primary and only home, and when you do sell, you share the equity in the home with FHA, but considering you would walk away with NO equity in a short sale, this could be a great option for you if you qualify.

If you, or someone you know are in a position where you are unable to pay your mortgage, take a look at the website above and go to the information on Hope For Homeowners.  Check out the qualifications and see if you qualify. 

All-in-all, it looks like a good program that could help a lot of homeowners in trouble right now.

Good luck!