President Obama recently announced a broad national strategy aimed at helping homeowners to restructure or refinance their mortgage loans to prevent foreclosures. The Administration’s comprehensive plan is known as the Making Home Affordable Program.
The Making Home Affordable Program consists of two separate components:
- The Home Affordable Modification Program assists homeowners already behind on their mortgage payments, as well as those anticipating financial difficulty.
- The Home Affordable Refinance Program enables eligible homeowners to take advantage of today’s low interest rates — even if the outstanding mortgage balance is greater than the value of the home.
|The official U.S. Treasury site contains a self-assessment tool designed to see if you are among the 7 to 9 million homeowners who may benefit from the refinance or modification programs available through this government program. You can also download a borrower Q&A there.We encourage you to use the resources from the Making Home Affordable program.
We ask for your patience, as we expect unusually high call volumes as we work to help as many customers as possible through the Making Home Affordable program. Our goal is to focus first on those customers with the greatest level of need.