Recovery Act - Homeowner Help
Those struggling to keep up with their mortgage now have a new tool to learn about and access available assistance – the Obama Administration’s innovative website, MakingHomeAffordable.gov, where responsible homeowners can learn about the new Making Home Affordable program and calculate how much financial assistance they can receive under the program.The website offers extensive information, tools to determine eligibility, referrals to housing counselors and more to homeowners making a good-faith effort to make their mortgage payments. It is part of an extensive effort to help homeowners while preventing the destructive impact of the foreclosure crisis on families and communities.
By placing the sites featured resources and tools directly into the hands of homeowners, the Administration’s efforts to deliver relief to responsible borrowers and stabilize the housing market will be accelerated. Features of the site include: Extensive information about the plan, self assessment tools to allow borrowers to determine if they are eligible for the program, resources to find free, HUD-approved counseling services for borrowers who have additional questions and a handy checklist to ensure homeowners collect all necessary documents before calling their servicers.
Through early and aggressive efforts to arm those interacting directly with borrowers with information, interagency representatives have already 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.
