For most families, a home is not only a significant financial investment but also a source of pride. The loss of a home, due to unexpected events such as unemployment, can be financially and personally devastating.

The HOPE for Homeowners (H4H) program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans. H4H is an additional mortgage option designed to keep borrowers in their homes.

The program is effective from October 1, 2008 to September 30, 2011.

If you are having trouble making your mortgage payments, HOPE for Homeowners may be able to help you, by refinancing your loan into a new 30-year or 40-year fixed-rate loan with lower payments.

If you have been laid off or are facing unemployment, you can keep your home if you know the right steps to take. Firm like My Loan Modification Expert have put together some great efforts to help troubled home owners save their home by reducing their rate and mortgage payments.

Homeowners may contact their existing lender themselves or take help of an attorney to find out if they qualify for this program.

Servicers working with troubled homeowners may determine that the best solution for avoiding foreclosure is to refinance the homeowner into a HOPE for Homeowners loan.

Originating lenders who are looking for ways to refinance potential customers out from under their high-cost loans and/or who are willing to work with servicers to assist distressed homeowners.

Counsellors who are working with troubled homeowners and their lenders to reach a mutually agreeable solution for avoiding foreclosure.