GovLoop Project of the Week - MakingHomeAffordable.gov

In light of the horrible real estate market and the huge amount of Americans losing their homes; I find this site extremely helpful. I know a lot of people have a million questions and want to save their homes while getting back on track financially.

"Making Home Affordable provides homeowners with detailed information about these programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration's program. Through this website, borrowers can also connect with free counseling resources to help with outstanding questions; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their service as well as FAQs from borrowers in similar circumstances; and much more."


"The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels.


"The Home Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures."


You can also watch a video, Your Path to a More Affordable Mortgage - http://www.youtube.com/watch?v=wieAk15SE3c


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