3/19/2009 U.S. Treasury Department Press Release:
Administration Launches New Consumer Website For Responsible Homeowners Seeking Relief
MakingHomeAffordable.gov Features Self Assessment Tools, Calculators
to Help Borrowers Determine Eligibility, Payment Reductions
under Administration’s Refinancing and Loan Modification Program
Washington, DC– The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today launched a new website for consumers seeking information about the Obama Administration’s Making Home Affordable loan modification and refinancing program. MakingHomeAffordable.gov offers features including interactive self-assessment tools that will empower borrowers to determine if they’re eligible to participate and calculate the monthly mortgage payment reductions they could stand to realize under the Making Home Affordable program.
First announced by President Barack Obama in February, Making Home Affordable will offer assistance to as many as 7 to 9 million homeowners making a good-faith effort to make their mortgage payments, while attempting to prevent the destructive impact of the housing crisis on families and communities. MakingHomeAffordable.gov is a joint effort of the Department of the Treasury and HUD.
“Education and outreach is central to the success of our Making Home Affordable program,” said Treasury Secretary Tim Geithner. “Putting resources and tools directly in the hands of homeowners will expedite the process of delivering relief to responsible borrowers, and stabilizing the housing market is central to our overall economic recovery.”
“The tools offered on this site will help American families access the help they need even faster,” said HUD Secretary Shaun Donovan. “Communicating how this program works and who is eligible to those who need it is critical to the program’s success, and this website does just that.”
Since releasing the guidelines to enable servicers to begin modifications of eligible mortgages under Making Home Affordable on March 4th, representatives from Treasury, HUD and other members of a broad interagency task force have conducted detailed briefings and training sessions for mortgage loan servicers and investors, nonprofit housing counselors and nationwide borrower advocacy groups. Through these early and aggressive efforts to arm those interacting directly with borrowers with information, interagency representatives have briefed more than 2,500 participants on the Administration’s plans in the last two weeks.
A wide array of large banks to small lenders have already agreed to participate in Making Home Affordable, and servicers have undertaken steps to proactively engage borrowers and respond to their inquiries related to the new program. For example, JP Morgan Chase has put several special tools into place and initiated proactive solicitations to eligible borrowers around the Making Home Affordable program, including an online site to provide program details and allow borrowers to download a new financial information package; increased staffing in a dedicated service center that provides simple entry point for all borrowers, including CHASE, heritage Washington Mutual and EMC; a partnership with Fannie Mae to solicit over 125,000 eligible borrowers; and solicitation to an additional 180,000 non-GSE eligible borrowers.
With those wheels in motion, the Administration is now accelerating efforts to communicate directly with borrowers about the Making Home Affordable program. Features of the MakingHomeAffordable.gov website launched today include:
- Extensive information about the Administration’s Making Home Affordable plan
- Self assessment tools to allow borrowers to determine if they are eligible for the program
- A calculator feature that allows homeowners to estimate the reduction to their monthly mortgage payment that they might stand to realize under the plan
- Resources to find free, HUD-approved counseling services for borrowers who have additional questions
- A handy checklist to ensure homeowners collect all the documents they need before calling their servicers
I am looking 2 refinance.My Mortgage is at 6.50 I am looking for 4.50. Can you help me?
I am looking for a lower rate my mortgage is 6.50 I am looking for 4.50
DID YOU GET A RESPONSE FOR YOUR ?. I AM LUCKY SO FAR AS NOT TO HAVE A PROBLEM MAKING MY HOUSE PAYMENT BUT HUBBY WORKS FOR GM AND LOOKING AT ANOTHER LAYOFF AT THE END OF THE MONTH SO WAS WONDERING IF THEY COULD HELP YOU I AM IN THE SAME SITUATION. THANKS
It sounds like maybe the people posting here missed the link I put to the site that will help you find out how to answer the questions you’re posting here.
Here’s the link to the site:
MakingHomeAffordable.gov
How can I find out if a company will really help with a loan modification or if they are a scam? have already paid 1000 and they want another 2000 before i get a mod. Is there a list of company,s that are scams. How do i find out? Please Help
bbb better busness brower
my mortgage is 6.99 interes only on two more monts mihouse payment will going up how can i get help to lower interes rate i may loose mi house if have to pay more please i need a loan modification please help
OK. Apparently I made the link to the government website too small, because that’s where you can actually get answers to your questions.
I’ve fixed it in the original posts and made it bigger and more obvious.
Sorry about the confusion.
I’m one of those who pay new hope modification for help but just lost my money in the process
Buyer beware ! When leaving your information you will be contacted by many Lawer’s looking to charging you $2000.00 to $2700.00 to help you get a lower interest morgage from your lender. They tell you up front that unless they can help, their won’t be any charge and if they can it will cost you a $1000.00 and balance on closing. The only problem is they take your $1000.oo then tell you they can’t help and your out a $1000.00 Just try and get it back. More Friends of OBAMA
i am trying to get on the makinghomeafforordable.gov. but it keeps telling me opps not there. what can i do
I’ve been tring for a long time to lower my intrest payment.I am a resosable first time home owner.I’ve been in my new condo for almost 2 1/2 years.When I bought my place over two years ago,I signed at 7 1/2 %.Money is very tight now,and I am woundering what I can do and who to talk to that would help to lower my intrest payments on my morgage.I’ve tried in the past,but it seems I’ve always got a run around.Please tell me someone who can help,and give me streight forward and easly understandable answers.Thanks Ken
I have an emergency situation and was wondering if this program helps mobile home owners also…My partner of 31 years recently passed away and for 6 months I’ve been struggling to stay afloat on $674. a month from SSI. last week I had received assitance with food and utilities from DHS which was a God send but apparantly if I fail to make my full morgage payment I will lose this help also. Please Help, IT WAS UNBEARABLE TO LOSE THE LOVE OF MY LIFE ..I don’t want to lose our home too..Thank_You…sincerely..Patricia Eppenbrock