The Administration has launched a new consumer website, http://makinghomeaffordable.gov, 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.
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."
Features of the MakingHomeAffordable.gov website launched today include:
1) Extensive information about the Administration's Making Home Affordable plan
2) Self assessment tools to allow borrowers to determine if they are eligible for the program
3) A calculator feature that allows homeowners to estimate the reduction to their monthly mortgage payment that they might stand to realize under the plan
4) Resources to find free, HUD-approved counseling services for borrowers who have additional questions
5) A handy checklist to ensure homeowners collect all the documents they need before calling their servicers.
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.
Read the full press release on the RealEstateChannel.
I've worked with many sellers the past few years who were struggling to make their payments, and we've been able in most cases to find a win-win solution. Contact me to discuss your options.
Sherry Armstrong, Realtor
www.sherryarmstrong.com
sherry@sherryarmstrong.com
386-679-3191
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