Making Home Mortgage Affordable
This website has been created to provide current and future homeowners with the information they need to make complex decisions in this difficult economic environment. If you would like to get started immediately, then use the navigation to the left to locate the information you need. Or continue reading for more information about the site.
The main sections of this site are about the Making Home Affordable Program recently enacted by the US government. This program has been designed to help millions of homeowners who are having difficulties with their mortgage reduce their payments and stay in their homes. It is designed to greatly reduce the number of foreclosures and help stabilize the housing market and the economy. There are two main components to the Making Home Affordable program.
The first part of the program is the Making Home Affordable Refinance Plan. This targets homeowners who are current on their mortgages, but are currently unable to refinance to a lower rate due to a drop in the value of their home. This plan targets those homeowners who have loans held by Fannie Mae or Freddie Mac and whose owe approximately the same or less than the current home value.
The second part of the program is the Making Home Affordable Loan Modification Plan. This plan is for homeowners who can no longer afford their mortgage payments due to an increase in interest rates, a decrease in their income or a financial hardship such as medical expenses. This plan works for those who are current or those who are behind on their mortgages.
In addition this website will feature useful information for homeowners, including a guide to avoiding foreclosure. The site also features numerous articles and a home mortgage dictionary that will help to define many of the terms you will encounter on this site and beyond. Finally, you will find an informational section on personal credit with articles and info on credit reporting and improving your credit score.
I hope that you find this website informative and useful, regardless of your current situation. Thank you for visiting.
