Yesterday it was announced that HUD would begin phase 2 of a direct mail campaign targeted toward homeowners who may be in trouble in their current mortgage.
According to HUD Secretary Steve Preston:
“This letter might be the most important piece of mail many of these families will receive all year. This information could not only help save their current home, it could help provide them with long term financial security. This outreach campaign will ensure families are aware of the safe mortgage alternative offered by FHA.”
The 675,000 mailers being sent out are a follow up to 280,000 mailers that were sent in February.
According to the press release from HUD, below is the content of the letters being sent:
Do you need help with your mortgage?
Your area is experiencing a disturbing home foreclosure rate that has accelerated in recent months. News reports cite the damaging effects of “sub prime loans” as a major factor in the unsettled market. By focusing on education and safe mortgage alternatives, though, the Federal Housing Administration (FHA) of the United States Department of Housing and Urban Development (HUD) is working diligently to address this unacceptable foreclosure trend.
Over the past few months, FHA has worked with mortgage loan servicers to identify solutions for the crisis facing current homeowners. Your current mortgage does not have to be FHA insured for you to benefit from our help. If you are facing financial difficulties due to a recent or imminent mortgage reset, or other housing-related difficulty, I urge you to contact us at 1 (800) CALL-FHA or to visit www.fha.gov. There you will have the opportunity to learn about foreclosure prevention, legal rights, and credit counseling, among other topics.
Many homeowners may also be able to take advantage of our recently announced FHASecure program. This new program allows eligible homeowners to refinance into a secure, fixed-rate FHA loan even if they are in default.
Additionally, a new partnership between mortgage companies and non-profit housing counselors called HOPE NOW is available to you. Their mission is simple: reach out to homeowners who may be having difficulty paying their mortgages. For more information or to see if your mortgage company is a member of this caring coalition please go to www.hopenow.com.
Again, please contact us at 1 (800) CALL-FHA (800-225-5342) or go to www.fha.gov. As part of the federal government, the Federal Housing Administration wants to help you protect and preserve the American dream – your home.
Brian D. Montgomery
Assistant Secretary for Housing
Federal Housing Commissioner
If you are in trouble with your mortgage, don’t wait for a letter from HUD!
Act now and contact a local mortgage professional who can help you.
Hopefully an Arizona Mortgage Expert of course.