Making Home Affordable
What is Making Home Affordable?
A program launched by the US government in 2009 to help homeowners struggling with the effects of the subprime mortgage crisis to avoid foreclosure.
Where have you heard about Making Home Affordable?
President Obama introduced the Making Home Affordable (MHA) program at the peak of the recession. Around 1.3 million homeowners received direct assistance from MHA initiatives.
What you need to know about Making Home Affordable.
MHA was part of the Troubled Asset Relief Program, launched in response to the subprime mortgage crisis. It provided a variety of solutions to help homeowners get mortgage assistance and avoid foreclosure.
The main activity under the MHA was the Home Affordable Modification Program. This gave incentives to mortgage providers to modify eligible borrowers’ loans to reduce payments to a level considered affordable and sustainable for borrowers. The application deadline for assistance under MHA programs expired on 30 December 2016.
Find out more about Making Home Affordable.
Discover more about the factors that triggered the MHA program in our guide to the subprime mortgage crisis.