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The Making Home Affordable program of the United States Treasury was launched in 2009 as part of the Troubled Asset Relief Program. The main activity under MHA is the Home Affordable Modification Program.
Other programs under MHA include:
- Principal Reduction Alternative (PRA) - assists homeowners with a loan-to-value ratio exceeding 115 percent.
- Home Affordable Unemployment Program (UP) - temporary forbearance for unemployed homeowners.
- Second Lien Modification Program (2MP) provides a mechanism for servicers to modify second liens when a homeowner receives a first lien modification through HAMP.
- Home Affordable Foreclosure Alternatives Program (HAFA) - helps homeowners exit their homes and transition to a more affordable living situation through a short sale or deed-in-lieu of foreclosure.
Video Making Home Affordable
References
Maps Making Home Affordable
External links
- Making Home Affordable official homepage
Source of the article : Wikipedia
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