In February 2009, the Obama Administration introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis to get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize the housing market and help struggling homeowners get relief and avoid foreclosure.

The Home Affordable Modification Program provides eligible homeowners the opportunity to modify their mortgages to make them more affordable. Over one million homeowners have already gotten help under the program.  The program is on track to help 3 to 4 million homeowners by 2012.

On March 26, the flexibility for mortgage servicers to assist more unemployed homeowners and homeowners who are underwater through the program was greatly expanded.

The Second Lien Modification Program (2MP) offers homeowners a way to modify their second mortgages to make them more affordable when their first mortgage is modified under the Home Affordable Modification Program.

The Home Affordable Refinance Program gives homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments.

The Home Affordable Foreclosure Alternatives Program provides opportunities for homeowners who can no longer afford to stay in their home but want to avoid foreclosure to transition to more affordable housing through a short sale or deed-in-lieu of foreclosure.

Visit the homeowner website, www.MakingHomeAffordable.gov, which provides detailed information and resources about these programs. Through this website, homeowners can also connect with free HUD-approved counseling organizations, locate free events in their area, find the application documents necessary to apply for the Making Home Affordable Program, as well as find answers to frequently asked questions, and much more.

I hope that you will find these resources informative and useful as we all work together to solve our nation’s housing crisis and put our country on the path to a lasting economic recovery.

If you require help with your housing issues, you can start by filling out a privacy release form. In order for me to make inquiries on your behalf, the Federal Privacy Act requires your written authorization. Click here for Casework Privacy Release Form. Please be sure to include your address, home phone number and daytime phone number if different from your home. Copies of any documents or correspondence that you may have from the agency involved may also be helpful. Please do not include original documents as they may not be returned. If possible, please include a letter describing the nature of your difficulties and the outcome you are seeking.