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Making Home Affordable

Definition

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.

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 www.makinghomeaffordable.gov 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"
en.cnki.com.cn [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Policy intervention in debt renegotiation: Evidence from the home affordable modification programPolicy intervention in debt renegotiation: Evidence from the home affordable modification program
www.journals.uchicago.edu [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Mortgage refinancing, consumer spending, and competition: Evidence from the home affordable refinancing programMortgage refinancing, consumer spending, and competition: Evidence from the home affordable refinancing program
www.nber.org [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Responding to the housing and financial crises: mortgage lending, mortgage products and government policiesResponding to the housing and financial crises: mortgage lending, mortgage products and government policies
www.tandfonline.com [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Ignorance is Not Bliss: Financial illiteracy, the mortgage market collapse, and the global economic crisisIgnorance is Not Bliss: Financial illiteracy, the mortgage market collapse, and the global economic crisis
heinonline.org [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Cause and effect: government policies and the financial crisisCause and effect: government policies and the financial crisis
www.tandfonline.com [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Making housing more affordableMaking housing more affordable
onlinelibrary.wiley.com [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …

Humpty Dumpty and the foreclosure crisis: Lessons from the lackluster first year of the Home Affordable Modification Program (HAMP)Humpty Dumpty and the foreclosure crisis: Lessons from the lackluster first year of the Home Affordable Modification Program (HAMP)
heinonline.org [PDF]
… Kristopher, Andreas Lehnert, Shane M. Sherlund, and Paul S. Willen (Fall 2008) "Making Sense of … that losses were going to be sig- nificant, many servicers did not make sufficient adjustments … In many cases, homeowners took on extra leverage using a home equity line of credit …


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