Making Home Affordable

Understanding Making Home Affordable: A Lifeline for Homeowners in Financial Distress

Discover the intricacies of Making Home Affordable (MHA), a program initiated in response to the subprime mortgage crisis aimed at providing relief to struggling homeowners. Learn about its inception, key components, ongoing services, and its impact on the housing market.

Unveiling Making Home Affordable

Explore the origins of the Making Home Affordable (MHA) program, launched in 2009 as part of the federal government's efforts to address the challenges posed by the subprime mortgage crisis. Understand the overarching goal of MHA in stabilizing the housing market and preventing foreclosures.

Components of MHA

Delve into the core components of the MHA program, including the Home Affordable Modification Program (HAMP) designed to lower monthly mortgage payments for eligible homeowners. Learn about additional initiatives such as the Principal Reduction Alternative (PRA), Home Affordable Unemployment Program (UP), Second Lien Modification Program (2MP), and Home Affordable Foreclosure Alternatives Program (HAFA).

Impact and Legacy

Examine the impact of the MHA program on homeownership and foreclosure prevention, with over 1.8 million families directly assisted through HAMP. Discover how MHA's influence has shaped the mortgage industry, leading to millions of private-sector mortgage modifications.

Continuing Support and Resources

Learn about the ongoing services provided by the MHA program, including the makinghomeaffordable.gov website and hotline, offering guidance on mortgage assistance, housing counseling, and avoiding scams. Explore the resources available to homeowners already enrolled in HAMP modifications.