OBAMA ADMINISTRATION EXTENDS APPLICATION DEADLINE FOR THE MAKING - TopicsExpress



          

OBAMA ADMINISTRATION EXTENDS APPLICATION DEADLINE FOR THE MAKING HOME AFFORDABLE PROGRAM Extension through December 2015 Will Provide Struggling Homeowners Additional Time to Access Sustainable Mortgage Relief and Align End Dates for Key Assistance Programs WASHINGTON – The U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development announced an extension of the Obama Administration’s Making Home Affordable Program through December 31, 2015. The new deadline was determined in coordination with the Federal Housing Finance Agency (FHFA) to align with extended deadlines for the Home Affordable Refinance Program (HARP) and the Streamlined Modification Initiative for homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac. The Making Home Affordable Program has been a critical part of the Obama Administration’s comprehensive efforts to provide relief to families at risk of foreclosure and help the housing market recover from a historic housing crisis. The program deadline was previously December 31, 2013. As of March 2013, more than 1.1 million homeowners have received a permanent modification of their mortgage through HAMP. The Making Home Affordable Program has also put into place important protections for homeowners that have helped inform efforts to create standards for the mortgage servicing industry. This includes requirements for mortgage servicers regarding clear and timely communications with homeowners and protections to ensure that homeowners are evaluated for assistance before being referred to foreclosure. Homeowners seeking assistance with their mortgage payments should remember that there is never a fee to apply to the Making Home Affordable Program. Homeowners can work with a HUD-approved housing counseling agency free-of-charge to understand their options and apply for help. Homeowners should visit MakingHomeAffordable.gov for more information about free resources for assistance or call 1-888-995-HOPE (4673).
Posted on: Fri, 31 May 2013 19:32:50 +0000

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