Stop Foreclosure

For The American Homeowner

Making Home Affordable Plan: Obama Changes

Most Homeowners have likely heard of the Making Home Affordable Plan that was set in place to help Homeowners at risk of becoming a victim to foreclosure. On July 1, President Obama announced changes to this foreclosure prevention program.

Making Home Affordable Plan comes in two parts one is loan modification and the other is mortgage refinance. Obama made changes to the Make Home Affordable Mortgage Modification Program.

In the original program,that approximately 200,000 Homeowners were able to obtain a mortgage refinance agreement through, the terms were set to only allow Homeowners who had a loan to value level of 105% or lower. Today Homeowners are able to refinance through the Make Home Affordable mortgage refinance program with a loan to value of 125%.

This is going to allow another several million homeowners to Qualify for the mortgage refinance program. This is great news!

On a side note Homeowners should remember to pay particular attention to both their hardship letter as well as there budget when applying for the make home affordable program or any type of mortgage workout.

Loan Modification will Stop Foreclosure

July 3, 2009 - Posted by hope002 | Obama, debt, debt help, finance, foreclosure prevention, government, loan modification, loss mitigation, refinance | , , , , , , , , , , , , , , , , , , , , | 3 Comments

3 Comments »

  1. Hey
    this is a nice article on the ne making home affordable mortgage refinance program!

    Keep up the great work!

    http://newhopeforhomeowners.blogspot.com

    Comment by Homeowner Help and Assistance | July 7, 2009 | Reply

  2. what a great site and informative posts, I will add a backlink and bookmark your site. Keep up the good work!

    Comment by Tnelson | October 1, 2009 | Reply

    • hey thanks bud I appreciate the link!

      Please feel free to post a related link in my comment section if you would like. Better yet if you want you can submit an original article as long as you write it especially for Stop Foreclosure Blog!

      Comment by hope002 | October 17, 2009 | Reply


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