Making Home Affordable


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.

Making Home Affordable

What is ‘Making Home Affordable’

This program was designed to aid approximately seven to nine million eligible homeowners by lowering their monthly mortgage payments to a more manageable level. Making Home Affordable is ultimately designed to stabilize the housing market and prevent foreclosures. The reduction in payments may be accomplished either through refinancing or modification of the existing mortgage.

Explaining ‘Making Home Affordable’

Homeowners may visit the website for this program at and answer the questions on the homepage to see if they are eligible. They can also call (888) 995-HOPE to get more information. The Obama Administration allocated $75 billion to this program.

Further Reading

  • The Price of Real Estate in China: Actuality, Issues, Cause and Settlement——How Modern Society Departs From the Ideal of" Making Home Affordable" – [PDF]
  • Policy intervention in debt renegotiation: Evidence from the home affordable modification program – [PDF]
  • Mortgage refinancing, consumer spending, and competition: Evidence from the home affordable refinancing program – [PDF]
  • Responding to the housing and financial crises: mortgage lending, mortgage products and government policies – [PDF]
  • Ignorance is Not Bliss: Financial illiteracy, the mortgage market collapse, and the global economic crisis – [PDF]
  • Cause and effect: government policies and the financial crisis – [PDF]
  • Making housing more affordable – [PDF]
  • Humpty Dumpty and the foreclosure crisis: Lessons from the lackluster first year of the Home Affordable Modification Program (HAMP) – [PDF]