Here are some options for home owners who are in a short sale equity position in their homes:

Options:

1.    Program Name:    Hope for Homeowners

        a)    Begins this Month

        b)    For borrowers that purchased their home before 2008

        c)    Monthly payments exceed 31% of their gross income

        d)    30-year fixed option up to $550,440, guaranteed by FHA

        e)    Banks would write down the mortgage to 90% of the home's current value

        f)     May require sharing future equity with FHA, when sold

2.    Program Name:    Hope Now

        a)    Currently existing and is available to borrowers

        b)    Co-operative efforts among current lenders, servicers and non-profit groups

        c)    Helps current homeowners to defer or re-schedule monthly payments or reduce their loan principal

Where can borrowers get information?

        a)    Hope Now Hotline  888-995-HOPE (4673)

        b)    Website  www.Hud.gov, go to search and type in either Program Name

                --you will find lender lists, guidelines, etc...