I've been trying since Oct 08 when the HFH program was passed by Bush to get the Loan. Obama signed the new HFH improved version on May 20, 09. I can not find the guidelines anywhere on the internet. Can someone help? My loan is with ASC, which is owned by Wells Fargo. Since WF is getting TARP funds, does that mean ASC will need to honor the HFH loans? What income requirement is required for a $275K loan?
Thanks
Barb

Hi Barb
I feel your frustration this program has been promised for a long time not to be activated yet. I know that it was promised to the reg. Joe long before we started handing out trillions to big banks,corportations and to the local and state governments to give the reg. guy an out but they forgot!The program changes are still under way I was on an conferenance call last week with HUD and they said maybe another month.()I will believe it when I see it.
As far as Wells Fargo they don't have to do any thing; FHA programs are avilable to the banks but they can partisipate or not it is up to the bank. As far as the tarp program the banks did not make any promise they only accepted the money.
The income guidelines are that you can't exceed debt ratio of 38% on your home but instead of bets and pieces at the top of this page click on the guidelines and look at the program except any changes the government might make.
One suggestion to you would be to write your congressman and senators and tell them we are mad that we are that banks and corportations are getting help while the people who were promised first are still waiting trillions later!!!
Good Luck!!!!!

Hi

Just wanted you to know that I am also with ASC and Wells Fargo ASC actually ref me to H4H and all my paperwork from them is on Wells Fargo letterhead. I am calling them weekly and keep being told I am still being reviewed for the program which keeps my home from getting a sell date set for forclosure. I asked about the sign date that was published in the paper and was told that they were still getting the guidelines set for the loans and hopefully that by end of this month or in July that I would he getting some good news such as they will offer me a loan.
I did write to my senator and congressman. My congressman sent me a letter along with a HIPAA releae form and asked for copies of all my paperwork and letters that I had originally sent to ASC and the H4H program. I have not heard anything back from him or his office as of today and it has probably been over 2 weeks ago that I sent it along with the newspaper articles that came out in our local paper about the president siging the bill for this program. My senator had his helper contact me by phone and tell me that I was doing the right thing and was exactly in place where I should be and that I was actually farther along than alot of people .other than that he was not helpful or informative at all. and kind of made me stress even more than I already am about this .
I have been told by the H4H people (Wells Fargo rep? )that if things do not go thru with this program, that they would notifiy me and have me submit more information to see if I would qualify for one of the other programs available and/or in addition that I would be offered other options to keep from loosing my home. That they would not just put it up for sale after they had stopped it due to being in review for this program. I do not know how much longer this is going to go on and what it will take to participate if approved/ I do not have a large mortgage like some, only 90000.00 and I really do not know exactly how it will work , but I hope they let me know soon .

I just wanted to update my information, I never rec'd new information from hope for homeowners, but Wells Fargo/ASC notified me this week that my mortgage would be set up on a modification, they locked in my rate at5 % and lowered my payments from 740.00 to 531. per month, i did have to pay 2404.00 which is what they said they cld not or wld not write off but i have 2 weeks to pay that and then my new payments start. This was not done as part of H4H so none of the mortgae ins had to be paid nor any of the other things. It was just a straight modification, which i wish they had done back in jan when i asked for it but I can live with this.