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Check out Makinghomeaffordable.gov to learn about free mortgage help

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WASHINGTON--The Obama White House launched a new web site makinghomeaffordable.gov to give homeowners a one-stop shop to start to research options to reduce mortgage payments and prevent foreclosures.

The new website offers free assistance to home owners who may be in trouble--or just want to take advantage of new programs to refinance at lower rates. There's also help in finding counselors to help navigate through the often complicated process.

The most important thing--don't wait if you are in trouble and are about to or are skipping payments. Another resource: HOPE Hotline (888-995-HOPE)

Over at WhiteHouse.gov Stephanie Valencia, the associate director of the Office of Public Liaison, blogged about the new site.

"At midnight last night the Treasury Department took a great step to ensure that everybody who can take advantage of the President housing plan can do so, helping to put the brakes on the foreclosure crisis, launching MakingHomeAffordable.gov - a site where you can find out everything you need to know about the President's plan and whether you qualify. As somebody involved in conversations about this effort over the past weeks, I was excited to be able to talk about it here on the White House blog -- be sure to check out the calculator that allows homeowners to estimate the reduction to their monthly mortgage payment that they might get under the plan."

20 Comments

I hope this plan will verify the Legal status of all applicants, as their have been illegals getting loans in their daughters Social Security Number and other types of Fraud. This and all Stimulus monies need to go to Legal Americans only.

Peggy, lighten up, just as the Native Peoples lighten up when your ancestors invaded the 'new world' as illegals.

If the daughter is legal, it makes good sense if a mother is allowed to have a house her AMERICAN child.

i am in need of help i am 67 years old with a home with 183.000 balance with about 50.000 equity. i am at 7% plus interest rate, paying 1800.00 a month. a fixed rate with 20 more years left. i only make each month 1400.00 from working at florida medicaid plus 1124.00 social security . my wife is unemployed we kept her father in our home until he passed for 6 years january 10,2009.so far no work has been available to her.i am one payment behind,which occurred feb.2009. please help me. grady jackson

We currently have a morgage through COUNTRYWIDE morgage company. 10% interest with monthly payments of $1613.39. Our income together is $3163....that includes my social security check. Husband makes $2340. We are struggling...we can bearly makes ends meet with only $1549.60 to meet our utilites, food, gas, insurance etc.

We were almost 3 months behind and recently through our morgage company they offered us a loan to catch up on two payments..which will start being paid off in Sept at $38.00 per month. They cannot explain to us where $1,300 extra from the loan went...saying it was interest. We feel that we are being taken advantage of and wonder if there is any way that we can get our morgage interest down and to have an affordable monthly payment. After Sept we will be paying$1651.39...getting in deeper trouble then we are now. Please help us. Thank you for any information or help that you can give us. Sincerely Ellen Gilpin

I hope there will be a solution to help me . I was laid off from my my job in Nov 2008.i am currently collecting unemployment benefits,,before this occured i was hoping to refinanace my 30 year fixed rate loan I was waiting and waiting for the rates to drop, however now that they are low enough i can't because Countrywide Mortgage informed me i can't use unemployment funds as income to refinance.veryfrustated...please change the rule...

I was laid oof in january. I am getting unemployment. I will go back to work for a month. I would like to refinanace, at a lower rate. I owe, 151,536.81.My monthy payment is 1,098.51. ,thank you Henry Bohl

I have just been layed off from work and really
don't know what I am going to do about my mortgage payments.

I was in sales and have fallen behind in payments
Do you have suggestions?

Any information will be greatly appreciated.

Thank you
Carol

i was leave off may 2007. We haven't made mortgage payment since nov 2007. We are in foreclosure but, we want to save our home we consulted Hope they calm they contact Fist horizon. We contact the mortgage co every other week they finally sended us a financle list to apply for loan modiciation but, reasonally they responsed and total we would not qualify for loan modication but, we 're more assure for the hardship and could possibily be able to repay by i guess adding the amount we owe to back our loan is there any thing else i might be able to try.

I did a modification on 12/15/2008 with an interest rate ot 8% adjustable two weeks later my husband had a seizure and was hospitalize for three days. The terms of my modification is that I pay $2214.00 with $1673.00 being the mortgage and the balance being back taxes we had owe. I am presently on workers compensation and social security disability which total about $2500 montly. With my husband cannot find emplopyment as a carpenter in the Volusia County area I see myself in the next couple of months losing our home because of the terms I lock myself into becuase we had previously had two incomes comming in the home. Now I am wondering if I jump the rope too soon in taking that modification and am wondering now if I qualify for a new modification on this new program.

I bought a home in Delaware last may, I had some saving's to put a lump sum of money down, and this was half of my life's saving. got a mortgage but the truth of the matter is I was deceived about the whole ordeal my mortgage is 1764.00 a month I'm get social sec. I had some retirement money put away that was for me to start a home base business, but I had to end up putting it in this house because the house was leaking water through the basement walls,and mold was detected. I'm a single mother with four children, my youngest son is a paraplegic and that's why I bought a home so he can have some where to live and my other children also,so now I don't know if I'm going to be able to pay the mortgage, because I can't really afford it anymore I tried to get help refinance but they said my income wasn't enough so I'm trying to find a job, so I hope there's someone out there that can help me please!!!!!!!!

Thank you

Florence

We are homeowners that bought when the market is at its peak (up to the ceiling) now our home is appraised lower than when we purchased it.
we have an excellent credit scores but when we talked to our bank, they said they cannot refinance due to our home now being appraised lower. We purchased the home @ 250,000.00 under conventional. We really want to refinance at a lower rate to avoid future problems. any suggestions? or do the president has solution for this?

I AM ONE OF THOSE HOUSEHOLD THAT ARE IN IMPEDING DANGER OF GOING INTO FORECLOSURE. MY MORTGAGE COMPANY(OF WHICH THERE ARE NOW TWO BECAUSE OF A BUYOUT MERGER ARE COUNTRYWIDE AND BANK OF AMERICA.) BOTH OF THESE MORTGAGE FIRMS ARE PROCRASTING TO THE POINT OF PUSHING ME INTO FORECLOSURE, THEY ALSO ARE ILL INFORMED OF THE GUIDELINES SET UP BY THE PRESIDENT AND THE US TREASURY. I AM 70 YEARS OLD HAVE HEALTH ISSUE FROM GETTING BITTEN BY A BUG...HAVE LOSS MY JOB BECAUSE MY COMPANY CLOSED...AS I STUDIED THE GUIDELINES REGARDING THE HASP I WOULD QUALIFY FOR A 2%RATE WITH FORBEARANCE FOR 1YR ON PRICIPLE AND INTEREST WITH THE ADDED HELP OF EXTINQUISHING THE 2ND LIEN. MY HOUSE HAS DROPPED IN VALUE BECAUSE OF THE ECONOMY. I NEED TO TALK WITH SOMEONE IN THE KNOW REGARDING THESE PROGRAMS THAT HAVE THE AUTHORITY TO MAKE IT HAPPEN. I HAVE TAKEN MY MANDATED HUD SESSIONS AND HAVE BEEN ON THE PHONE TO SOMEONE ANYONE AT MY LENDERS OFFICE.(ONE DAY TRANSFERRED 22 TIMES WITHOUT A RESOLUTION. CONTACTED MY CONGRESSWOMAN NIKI TSONGAS 5TH DIST MASSACHUSETTS WHO'S OFFICE WAS EXTREMELY HELPFUL!

I am a 57 yr old single female who is disabled. I am awaiting an answer from Social security as to whether I will get disability from them. My long term disability from my job has ran out and I have been living on no income whatsoever since February. I am behind on my house payments and because I am buying my house on a land contract (owner financed with no bank involved) I am right on the edge of being evicted. The stress is causing me to become sicker, I have never been in a situation like this before. My house payments are $935 at 10% interest. When I called the people at makinghouseaffordable.gov they told me they couldn't help me because of the way my house is financed. I have called every agency I can find including ones that makinghouseaffordable told me to call and no one can help me or they want to charge me $1500 for their help. Mr Obama what am I supposed to do. I can't live on the streets with my pets. Someone needs to help me PLEASE!

I AM A WIDOW LADY WITH ASUBPRIME MORTGAGE. I AM 80 YEARS OLDAND IN TROUBLE. I NEED HELP SO BADLY. I AM IN FORCLOSURE. THEE PAPERS WERE SERVED FEB. 09. MY MORGAGE WAS AN ADJ. RATE THAT ADJUSTED AUGUST O8. THE COMPANY THAT HAS THE MORTGAGE IS AMERICAN SERVING CO. THAT BELONGS TO WELLS FARGO. THIS JUNE WILL BE A YEAR THEY HAVE BEEN WORKING ON IT THEY SAY. I HAVE HAD TO SEND HUNDREDS OF FORMS TO THEM.NOW IT IS BEENING VIEWED. I HAVE BEEN THROUG FORBEARENCE. I COULD NOT PAY THEN CAME THE SHORT SALE. . I AM WAITING FOR THE NEXT STEP . I NEED HELP FROM SOMEONE IN THE WHITE HOUSE. IF I DO NOT GET HELP SOON I WILL BE IN THE STREET WITH NOWHERE TO GO. PLEASE HELP ME GET THIS MORTGAGE RATE DOWN FROM 1100 DOLLARES. I AM BEHIND IN PAYMENTS . PLEASE HELP ME TO GET THIS MESS SO I CAN MAKE THE PAYMENTS AND LIVE MY DAYS OUT IN MY HOME.

I lost my job almost a yr ago & lost my health insurance. A few months later I find out that i have to file for disability. My unemployments about to run out next month. My husband is still working but Ive had to let my credit cards (which was 1/2 pd off) go to make my mortgage. Ive looked and looked for someone to help us modify our loan which is w/a private lender.."Vanderbilt" & our interest rate is 9.45% = $837 a month. They will not work w/us at all! The programs out there Ive found is charging huge fees. Didnt our govt tell us those who charge is not legit? Well come on...if its this hard for a lot of ther folks...just make the interest lower for all straight across the board! Can someone plz help us? Oh and we're in KY and my loan is $90,000

In October 2005, when my wife and I went to sign the papers to start purchasing our home, we were supposed to be getting a 30 year fixed rate of 6%; instead, we were given an adjutable rate mortgage. Now we know why the lender failed to show at the closing. My wife wanted the house so badly, that we signed thinking we would be able to refinance 2 years later. Needless to say, we have not found a lender even though we have not missed a payment and our mortgage has increased from 8.79% to over 12% i.e. from $1230 to $1922 per month and the lender is planning another raise and this does not include taxes nor insurance! We have had to cut corners everywhere including medical ( I am a heart patient). We still make our payments but still no refinancing. Someone out there please help.

I don't know where to turn anymore. In 1998 My husband and I bought a house. Less than one month after we bought it, I became disabled and could not return to work. My husband has basically been carrying the full load of the house payments and bills since 1998. My monthly disability check helps somewhat, but not nearly as much as if I still worked full time. My poor husband's health has been failing and now he is unable to work. He was forced to take the early retirement at age 63, because of his health problems. He so much wanted to stay working until full retirement and then a few years after as well, {although I had been urging him to retire early}, because of his health and assured him that we would somehow make ends meet. My question is... Since my name is on the loan papers with my husband's and I was declared fully disabled, approximately one month after I signed the loan papers... Would I have been eligible all along for receiving some kind of help paying the mortgage and other bills because of my becoming disabled after I took the loan out, in 1998? Also, what kind of help are my husband and I both eligible for under President Obama's Bailout Plan, or any other plan available? We live in a very modest 1950's home and Apartment rent wouldn't be any cheaper, except for having a Landlord to make all costly building repairs, when needed. I should mention that our house is in need of several repairs. I'm not concerned about cosmetic updates on the home, although, I am concerned of the needed repairs. My husband never was a Mr. fix it kind of guy, except for being able to do a few minor things, but he did a more than beautiful job keeping up the yard, garden and snow shoveling. Now, with his health being the way it is, he will no longer be able to do those tasks. We will either need to depend on our grown children to help with that or hire a local neighborhood teen that wants to make a few dollars, mowing and snow shoveling. We need a place to live and we really don't want to lose our house.

I filled out a application for making home affordable and went through the steps as far as the 3 payments I was suppose to make on time and was told I would hear something from my mortgage company within 30-45 days. I made all payments on time and received a letter from my mortgage company (Wells Fargo)90 days later stating I was not approved for the making home affordable plan due to a bankruptcy that was filed and discharged and I just want to know if this is one of the stipulations on getting approved? If so when I went through the pre-qualifications why wasn't this a red flag in the beginning instead of giving me a lower payment for 3 months causing me to be further behind because I wasn't making a full payment and now I'm in jeopardy of loosing my home.

How do people get help under this program if their current mortgage IS NOT Fannie Mae or Freddy Mac? So are we to understand that OUR government is only helping out those who's interests are with the companies to which every tax payers money went to bail out? My wife and I are in serious trouble and about to lose our home due to our battle with terminal cancer.
We have been fighting through all the battles that come with this disease. Loss of wages, loss of health benifits from being on disability while under going extensive Chemo. were barely holding on to what we have and that is without making any mortg payments now for 5 months. When all seems so hopeless where are we to turn. Our current mortgage is with a credit union. Other than "Show us the note" what can we do to remedy this situation. It seems we are one of very few people that may have overcome this dreadful disease thru Chemo and homeo pathic cures, yet we are still not out of the woods. When we are able to say we are cured or that the cancer is in remission, how do keep our house if and when we can both return to work?

i got a 8 grade ed and im disable and i went tho hope and hud and still got no were my wife been gone over a 1 year and im behind on my house payments.i dont no were to trun to got no were to go .got a 15 year mortage and fla creit union then ask me to do this two years 355 amonth and then 700 month for 25 years .right now im paying 800 dollars a month .for 15 years.sent it a moble home no one want to do a 30 years.this all i get a month for ssd is 802 month and son get 378 for two more years.and i got anutity for 300 dollars amonth .that all the income i got.i really need help and no one helping me.im scared

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on March 19, 2009 10:08 AM.

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