Obama’s Homeowner Assistance Program: Making Home Affordable

The Obama Administration’s Making Home Affordable program estimates it will offer assitance to 7-9 million homeowners by supporting low mortgage rates and refinancing options with lenders. Details of the $75-billion program were released yesterday. The government has created the website FinancialStability.gov to help homeowners access important information and determine if they qualify for the program. An article today in the Detroit Free Press raises skepticism towards the effectiveness of this program in Michigan, where housevalues have severly dropped and foreclosures have continued to grow over the past several years. However, this plan has the potential to help millions of homeowners around the country. Mortgage service providers are expecting to receive large numbers of callers inquiring on their eligibility to modify loans.

Visit FinancialStability.gov to access the most up-to-date information about Obama’s Making Home Affordable program.


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