This product only works if you have only one home and reside in it. In summary you can get new financing on your property at 96.5% of the Current Market Value of the Home but cannot get a 2nd Mortgage for five years other than for needed fix ups of the home. The borrower must be in distress with a current hardship on payment of the existing mortgage and unable to work out a resolution within normal loss mitigation guidelines. To find out how you can qualify and get this, call us, Foreclosure Freedom Network, at (877) 333-4506. See the HUD Newsletter below:
H4H Program Summary from FHA Site