Making Home Affordable Program

Looking for information on the Making Home Affordable program? The Obama administration created the Making Home Affordable, or MHA, program in an attempt to help people avoid foreclosure. Through this program, you may be able to lower your monthly mortgage payment and/or lower the rates on your loan. If you have a second mortgage, such as a HELOC or home equity loan, the Making Home Affordable program may be able to assist you with lowering those payments to make them more affordable, as well.

There are many programs available under the Making Home Affordable program that may be able to assist you in lowering your monthly payments. Many Americans who have taken advantage of this program have been able to lower their monthly mortgage payment by $500 or more per month, which is obviously a significant savings. If you are looking to lower your monthly mortgage payment, some of the programs that you may want to look into that are under the umbrella Making Home Affordable program include the Home Affordable Modification Program, the Principal Reduction Alternative, the Second Lien Modification Program and the FHA Home Affordable Modification Program.

As you have probably heard on the news, mortgage rates have been at an all-time low for quite some time now. The Making Home Affordable program may be able to help you lower the interest rate on your home mortgage, which will help bring down your monthly mortgage payment. The great thing about this preventative program is the fact that you may be able to get a fixed interest rate, which means your monthly payments would remain the same until your house is paid off. The Making Home Affordable program can even help you lower your rates if you owe more than your house is worth. The two programs that are available under the Making Home Affordable program that can help you lower your rates include the Home Affordable Refinance Program and the FHA Refinance for Borrowers with Negative Equity program.