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Making Home Affordable Program: The New Government Stimulus Plan

Updated on May 21, 2013

Help available through the government: stimulus starts

Millions of American home owners that are behind on their mortgage payments or facing foreclosure may now find some relief through the new plan that President Obama has put in place. The Making Home Affordable Program is the new program that's just being rolled out to offer help to struggling homeowners.

What is “Making Home Affordable" all about?

"Making Home Affordable" is part of President Obama's comprehensive strategy to get the housing market back on track. Through the Making Home Affordable Program, up to 9 million American families may be eligible to refinance or modify their loans to a payment that is affordable now and into the future" (quoted from the make home affordable website)

Even homeowners that find themselves owing more than what their home is now worth may find relief through the refinancing arm of the plan.

Make Your Home Affordable Again

Through the making home affordable website, there is a lot of good information on how to save your home. There is also a very helpful "frequently asked questions" guide. One of the things that is stressed on the making home affordable website is this: if you are behind in mortgage payments or anticipate falling behind because of hardship - it is very important to call a housing counselor right away. There is more help available to those who start planning right now to get counseling and advice on their situation.

Because the making home affordable program is only weeks old, there might be some delay in getting processed but don't let that deter you from seeking help now. Lenders and mortgage servicers are hiring more people to get on board to help the flood of expected homeowners seeking help. At the same time, because it is a new program, there is understandably a learning curve for all involved. You can also call one of the HUD offices and get counseling about the Making Home Affordable Program, and those phone numbers are also listed at the website. There is also an easy questionnaire on the site to find out if your mortgage situation qualifies for the program.

To find out more you can visit the official government website at and get started in the process.

Good luck and make sure to watch the video there too. There are many homeowners in the same boat together, and seeing other people that are struggling helps you realize you are not alone. Although this can be a very devastating time, there is hope! The Making Home Affordable Program may be able to do just that - by making your home affordable again!

Need urgent help? Contact the Homeowner’s HOPE Hotline: (888) 995-HOPE

(This article brought to you by Dorsi Diaz, professional writer and blogger)

Good Video Explaining The Making Home Affordable Program


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