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.  Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income.

On February 18, 2009 the Obama Administration announced the Making Home Affordable (MHA)
Program, a comprehensive plan to stabilize the U.S. housing market. Two weeks later on March 4, the Administration published detailed program guidelines and authorized servicers to begin modifications and refinancings under the plan immediately. Servicers covering more than 75 percent of loans in the country have now begun modifications and refinancings under the Administration’s MHA Program.

Visit the government's Making Home Affordable website

View the Tresury Department's press release announcing the Making Home Affordable program.