Making Home Affordable

Filed Under »
Dictionary Says

Definition of '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.
Investopedia Says

Investopedia explains '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.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Real Estate

    Land plus ...
  2. Budget

    An estimation of ...
  3. Foreclosure - FCL

    A situation in ...
  4. Mortgage

    A debt ...
  5. Loan Modification

    A modification ...
  6. Obamanomics

    A buzzword that ...
  7. Delinquent

    The failure to ...
  8. Interest Rate Ceiling

    The maximum ...
  9. Fixed Interest Rate

    An interest rate ...
  10. Hybrid ARM

    A hybrid ...

Articles Of Interest

  1. Why Are Mortgage Rates Increasing?

    Learn how the secondary mortgage market and investor demand affect the cost of home ownership.
  2. Measuring The Benefits Of Home Ownership

    Price appreciation is the biggest factor, but it's not the only thing to consider.
  3. Retirement Living: Renting Vs. Home Ownership

    Here are three simple questions you should consider when weighing this decision.
  4. The Hidden Costs Of Home Ownership

    Mortgage lenders don't factor the extra costs into your loan amount. Make sure you save for the "little" things.
  5. Battling Foreclosure: The HOPE NOW Alliance Strategy

    Hope Now was formed to help prevent foreclosures. Are the organization's strengths enough to overpower its weaknesses?
  6. Mortgage Basics: Introduction

    Learn how to navigate what may be your biggest and most important loan.
  7. Mortgage Basics: The Big Picture

    Learn how to navigate what may be your biggest and most important loan.
  8. Avoid Foreclosure: How To Handle An Underwater Mortgage

    Foreclosure is the biggest fear of any struggling homeowner. These tips just might save your credit rating.
  9. Common Liabilities That Hurt Your Net Worth

    Every penny that you keep out of the liability side of the net worth equation essentially ends up on the asset side.
  10. Profit From Mortgage Debt With MBS

    Mortgage-backed securities can offer monthly income, a fixed interest rate and even government backing.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center