March 7, 2009 Elad Bushari

The U.S. Treasury Department today announced new guidelines that will enable loan servicers to begin modifying eligible mortgages under the Homeowner Affordability and Stability Plan that President Obama unveiled two weeks ago. The rules will implement financial incentives for mortgage lenders to modify existing first mortgages and set standard industry practice for modifications.

Treasury Secretary Tim Geithner says the Making Home Affordable program “will help make home ownership more affordable for nine million American families and in doing so, help to stop the damaging impact that declining home prices have on all Americans.”

The Treasury Department has published a wealth of professional and consumer resources that explain the details of the new Making Home Affordable policies at

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

Comments (2)

  1. Kelley Kilmon

    After much research I’ve found the following websites cover everything about the “Making-Home-Affordable” plan and mortgage information in general. If your loan is held by Freddie or Fannie, you might qualify for a refi or loan mod.

    First, find out if your loan is held by Fannie or Freddie. Contact them here to find out. They give you the phone number to call Fannie and Freddie directly to see if your loan is held by one:

    For an idea whether you even qualify, even if your loan is held by Fannie or Freddie, you can calculate your eligibility here:

    I’d also call HUD. I don’t have their number but you go to:

    And last but not least is MortgageBreakDown, in my opinion one of the best new mortgage sites for independant information available. Easy to read, navigate and contains solid information:

  2. This hasn’t got too many info regarding the Making Home Affordable program but it highlights pretty much the basics. I’m not 100% convinced of it yet though, but I think it has a pretty good chance of success. We’ll have to see.

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