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 Making Home Affordable

Since April 2009, mortgage assistance programs have helped millions of homeowners stay in their homes.

 
Program Purpose and Overview
 
In early 2009, Treasury launched the Making Home Affordable® (MHA) program to help struggling homeowners avoid foreclosure. MHA is only one part of the Obama Administration’s Homeowner Affordability and Stability Plan, which includes several other initiatives to strengthen the housing market.  
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Key Facts

  • Launched in February 2009, Making Home Affordable® (MHA) consists of several programs designed to help struggling homeowners prevent avoidable foreclosures.
  • More than 1 million families have been helped through MHA. The program has also set new standards that have transformed the mortgage industry, resulting in nearly 3 million private-sector mortgage modifications through May 2012.
  • MHA’s principal component is the Home Affordable Modification Program (HAMP®). Other programs assist homeowners with second liens, “underwater mortgages,” and those seeking a short sale or deed-in-lieu of foreclosure.
  • Treasury committed up to $45.6 billion to help homeowners avoid foreclosure under TARP.
  • If you are a homeowner who needs help with your mortgage, please visit www.MakingHomeAffordable.gov.

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Last Updated: 8/2/2012 10:03 AM