Be very carefull when dealing with this and companies in the similiar business. Here's how they work - They will tell you that you qualify for one or several pre-forclosure programs, ask you to put into a HUD-approved escrow account $995 to be used for closing cost and finally fill out mounds of financial docs to the them so they can process your loan. Sounds like a typical loan process, right? I agree, The problem start when when you get the disclosures to sign. This is where the true cost of the service is revealed. If you don't read carefully you won't see where it says that that the $995 is only for this company to "evaluate" your financial situtation and not used for closing cost.
The point to this is be carefull dealling with anybody who collect your money upfront.
Here some advice:
Talk to HUD First, they will give you the right directions.
Talk to to your bank directly and get their position
The HUD sponsered Hope4homeowners program is overall a failure, most banks are unwilling to participate. As of this writing there has been no fully funded case reported.
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