H4H Rules Out but Program Use Still Appears to Be a ‘Last Resort’
October 6, 2008
The Bush administration last week unveiled details of the $300 billion borrower-rescue program authorized under the 2008 housing act, but whether it can generate significant volume still remains to be seen. Guidelines were issued Oct. 1 by the board overseeing the HOPE for Homeowners program in two mortgagee letters, ML 2008-29 and 2008-30. The H4H program, a crucial component of the...