White House launched mortgage help website

Posted on March 27, 2009 
Filed Under Financing, Foreclosure, News

The Obama administration just launched a new website designed to help American families struggling to pay their mortgages: makinghomeaffordable.gov  The site aims to clarify and promote the loan modification and refinancing program that the Obama Administration launched in February.

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.  

The resources available include borrower FAQs, self assessment tools so borrowers can determine their eligibility for the program, a calculator to estimate possible reduction/refinancing options, HUD-approved counseling services and partnered servicers to address additional questions, checklists for necessary documentation homeowners need to have before contacting services and a checklist cautioning borrowers away from the recent surge of illegitimate housing counseling services.

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