Making Home Affordable Guidelines

Obama Administration’s Making Home Affordable Guidelines

The Obama administration rolled out its rules on March 4, 2009. The Treasury Department guidelines for the up to 9 million homeowners who could be helped run 17 pages, and some details for lenders are still being worked out, but both programs are now in place. The two rescue plans are:

The Home Affordable Refinance Program, aimed at up to 5 million people who can't refinance at lower rates because their current home values have been decreased drastically in the downturn.

The Home Affordable Modification Program, a more complicated effort aimed at up to 4 million people facing hard times who are in danger of slipping into foreclosure.Here's how they work:

Eligibility for either program:

Loan must be originated on or before January 1, 2009
The owner must live in the home.
The loan cannot be in default already.
The mortgage must be held or secured by Fannie Mae or Freddie Mac. Check to see if you Qualify

The next step: If you have a government-backed loan, you need to figure out if either program works for you. See which program you may qualify for.

Home Affordable Refinance Program Home Affordable Modification Program

Please fill out the form below and a Licensed Mortgage Loan Originator will contact you immediately to go over your options.

First Name:: *
Last Name:: *
Email:: *
Home Phone: *
Work Phone:
Cell Phone:
Street Address: *
City: *
State: *
Zip Code: *
1st Mortgage Balance: *
2nd Mortgage Balance (If Applicable):
Approximate Property Value: *
Additional Comments:
Enter Code Shown:*