Making Home Affordable Loan Requirements

For immediate assistance call 888 995 hope 4673 hearing impaired.
Making home affordable loan requirements. For immediate assistance call 888 995 hope 4673 hearing impaired. By setting standards for what constitutes a sustainable modification across the mortgage industry hamp has helped to make private loan modifications more affordable for homeowners. Like millions of american homeowners hit hard by the housing and economic crisis you may wonder whether a loan modification is right for you. January 5 2011 in 2009 the the making home affordable program was introduced to help struggling home owners avoid default and foreclosure on their home loans including fha mortgages and equivalent programs for va home loans.
877 304 9709 tty let an expert from a hud approved housing counseling agency help you understand your options prepare your application and work with your mortgage company. In fact thanks in part to hamp the proportion of private loan modifications that reduce monthly payments for homeowners has more than doubled. Over 1 8 million families have been helped directly through hamp. Launched in february 2009 making home affordable mha consists of several programs designed to help struggling homeowners prevent avoidable foreclosures.
Home affordable unemployment program up. Principal reduction alternative pra assists homeowners with a loan to value ratio exceeding 115 percent. The making home affordable program of the united states treasury was launched in 2009 as part of the troubled asset relief program the main activity under mha is the home affordable modification program. Home affordable modification program.
If you have a loan. The home affordable modification program hamp is designed to help financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term. If you are a homeowner who needs help with your mortgage please visit www makinghomeaffordable gov. The program aims to assist qualified homeowners in modifying their mortgages to a more affordable interest rate keeping them away from possible foreclosure.
The home affordable modification program hamp is part of the federal government s response to the housing crisis that occurred in 2007 and thereafter.