The U.S. Department of the Treasury and the Department of Housing & Urban Development (HUD) have launched a new Web site for consumers seeking information about the 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 are eligible to participate and calculate the monthly mortgage payment reductions they could stand to realize under the Making Home Affordable program.
‘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,’ says Treasury Secretary Tim Geithner.
Since releasing the guidelines to enable servicers to begin modifications of eligible mortgages under Making Home Affordable on March 4, representatives from the Treasury, HUD and other members of a broad interagency task force have conducted briefings and training sessions for mortgage loan servicers and investors, nonprofit housing counselors and nationwide borrower advocacy groups.
The site includes resources to find free, HUD-approved counseling services for borrowers who have additional questions.
SOURCES: Treasury, HUD