Making Home Affordable Program

On February 18, 2009, President Obama announced his Making Home Affordable Program (MHA), designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of defaulting, but prevents neighborhoods and communities from being pulled over the edge too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs.

For more detailed information, visit MakingHomeAffordable.gov.
Making Home Affordable Program (MHA):
Guidelines and Latest News

The Plan
On March 4, 2009, the Obama Administration announced new U.S. Department of the Treasury guidelines to enable servicers to begin modifications of eligible mortgages under the Administration's Making Home Affordable Program (MHA) – announced by President Barack Obama on February 28, 2009.
NAR's Detailed Summary of the Obama Housing Plan> (PDF: 112K)
Key Components of the Plan>


Modification of Second Mortgages
On April 28, 2009, the Treasury Department announced an expansion of the Making Home Affordable Program (MHA) to help reduce payments on second mortgages.

Modification of Second Mortgages under the Making Home Affordable Program> (Treasury Dept.)


Financial Incentives and Uniform Process for Short Sales - The Foreclosure Alternatives Program (FAP)
On May 14, 2009, Treasury Secretary Geithner and HUD Secretary Donovan announced new details on the Making Home Affordable Program to help homeowners facing foreclosure.

Treasury Department press release> (Treasury Dept.)

Realtors® Help Buyers, Sellers Navigate Short Sales>

Uniform Process for Short Sales Will Help Struggling Home Owners>

View detailed guidelines> (PDF: 316K)

Treasury's FAP factsheet> (PDF: 44K)


Visit the Treasury Department links below for the latest guidelines and information:

Making Home Affordable - Summary of Guidelines> (PDF: 53K)

Borrower Information: Making Home Affordable Refinance and Modification Options

Borrower Q&As> (PDF: 82K)

Housing Counselor Q&As> (PDF: 72K)

Modification Program Guidelines> (PDF: 90K)

Fact Sheet - Updated Detailed Program Description> (PDF: 73K)

Modification of Second Mortgages under the Making Home Affordable Program>

New Details of the Program to Help Homeowners Facing Foreclosure>

Fact Sheet - The Foreclosure Alternative Program (FAP)> (PDF: 44K)

Making Home Affordable Progress Report, May 14, 2009> (PDF: 20K)


Fannie Mae and Freddie Mac Guidelines
Fannie Mae and Freddie Mac released guidelines on refinancing and loan modification options that implement President Obama's Making Home Affordable Program.

GSEs Home Affordable Refinancing Programs>

GSEs Home Affordable Modification Programs>


Determining if a borrower's loan is owned or securitized by Fannie Mae or Freddie Mac:

For Fannie Mae, 1-800-7FANNIE (8am to 8pm EST).

www.fanniemae.com/loanlookup

Freddie Mac, 1-800-FREDDIE (8am to 8pm EST)
www.freddiemac.com/avoidforeclosure