The Making Home Affordable Program launched under the Obama administration in March of 2009 was aimed at helping homeowners in distressed mortgage programs stay in their homes. Under the Making Home Affordable Program the goal was to provide Loan Modifications for the home owners to make their full mortgage payment including principal, interest, taxes, and insurance is equal to 31% of their gross income. $75 billion dollars has been allocated of the stimulus funds for sustainable mortgage modifications through the Home Affordable Modification Program (HAMP).
In the short time this program has been available more than 400,000 loan modification offers have been extended and more than 230,000 trial loan modifications have begun. The current pace of loan modifications provided has put the program on track to offer loan modification assistance to up to 3 to 4 million homeowners over the next three years!
To continue and emphasize the positive growth of this home saving campaign, the Administration requested loan servicers to ramp up implementation of this loan modification campaign to a cumulative 500,000 trial loan modifications started by November 1, 2009. This would more than double in three months the number of trial modifications started in the first five months of the program.
There is no better time to take advantage of this opportunity presented to distressed home owners. This program was funded to help an estimated 3-4 million home owners, see if you qualify, before the program is no longer available.
Online www.jnrassociates.com is an informative site detailing the “qualifying hardships” the Making Home Affordable Program was aimed at helping.
Good Luck!!
Posted by jnrassociates 
