Upside Down Mortgage

Obama Mortgage Help Website

Question: I received a letter that I may qualify for lower mortgage payments for my FHA Loan.?

I received a letter from Newport Shores Mortgage that I may qualify for a payment reduction on my FHA loan. Is this a scam? I contacted my mortgage company (Wells Fargo) a few months ago and they told me that FHA loans don't qualify for any of the Obama programs, but that it could change in the future. I looked up Newport Shores Mortgage on the HUD official website and they are listed as a qualified lender. I don't want to get scammed and potentially lose my home, but I do need some help lowering my monthly payment. Does anyone know anything about this?

Answer: You received some junk mail.

They want you to refinance your property from Wells to them, they are not going to lower your payments with your current loan.

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