Making Home Affordable, announced in February 2009 to much fanfare, promised to be the solution for 9 million homeowners.
The two programs, Home Affordable Modification Program targeting homeonwers unable to make their payments because of financial hardship; and Home Affordable Refinance Program targeting homeowners who were able to make their payments but unable to refinance into a lower rate because their equity had fallen, seemed to be the answer.
30 days later, Making Home Afordable struggled to launch but gained momentum as lenders began making announcements that they were adopting the standards and 'participating' in the programs.
Five months later, if you google "Home Affordable Modification" -- and then click through the first several pages of the government listings (how the heck do they get such good placement) and beyond the solicitations of countless mortgage companies and modification companies promising to deliver on the, well, promises, of the program -- you will begin to see blogs and message boards overwhelmed with stories of homeowners either unable to get an answer from their lender on whether they qualify or worese, their lender says they don't. And this despite the "makinghomeaffordable.gov" Web site indicating that they 'may qualify.'
It is becoming increasingly apparent that the programs are struggling to reach critical mass.
I have posted a number of blogs on this subject in an effort to act as a resource for homeowners struggling to understand these programs here, here, here, and here, and I've received countless private ActiveRain messages from homeowners nationwide turning over every rock they can find in search for answers. What have I told them?
Make your voices heard.
I've suggested contacting their lenders repeatedly (squeaky wheel gets the grease), contact their State Representaves (which you can do here), and I'm writing today to offer another solution:
I've created an online petition, designed to unite the voices of the many who are for numerous reason either not getting an answer on whether they qualify, or just flat out are being told they don't.
http://www.petitiononline.com/afford/.
The petition calls for transparency and accountability in the face of so much uncertainty. After all, it's already tough enough to be faced with losing a home...
Please take a moment, if you are so inclined, to add your voice.
United we stand!
Thanks for reading -- James Wirth
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