On April 28, the Obama Administration announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages as well as a set of measures to help underwater borrowers stay in their homes.

Continuing to bolster its outreach around the program, the Administration also announced last week a new effort to engage directly with homeowners via MakingHomeAffordable.gov. Starting April 28, homeowners will have the ability to submit individual questions through the website to the Administration’s housing team. Members of the Treasury and HUD staffs will periodically select commonly asked questions and post responses on MakingHomeAffordable.gov. To submit a question, homeowners can visit www.MakingHomeAffordable.gov/feedback.html.  Selected questions from homeowners across the country and responses from the Administration will be available at www.MakingHomeAffordable.gov/asked-and-answered.html.

The consumer website, www.MakingHomeAffordable.gov, provides homeowners with detailed information about refinancing and mortgage modification programs. On the site, homeowners will find self-assessment tools and calculators to empower themselves with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration's program. Through this website, borrowers can also connect with free counseling resources to help with outstanding questions; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their servicer as well as FAQs from borrowers in similar circumstances, and much more.

Below are the two primary categories addressed on the consumer website:
Refinancing - Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home.
Modification - Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income.
Please use the self-assessment tools provided on MakingHomeAffordable.gov to see if you are among the 7 to 9 million homeowners who may be able to benefit from Making Home Affordable. 

Whether you would like more information about this particular program or current information on properties available within the Greenville, NC or Pitt County area, please contact The Pistol Tingen Team at (252) 321-6161.