Making Home Affordable, launched in February, was designed to help homeowners and banks rework mortgages and avoid foreclosures. Intended to help millions of homeowners renegotiate their mortgages the program in its first months has proved tougher to use than expected for some homeowners. The current reports suggest that nearly 20,o00 loan modifications are complete, but that the process is getting easier.
Anecdotaly the system is cumbersome, and some banks are better prepared than others due to education and training on the program. With the continued economic stress and rising unemployment rate the program has to potential to reach and help more and more Americans. National Public Radio has a story of one such family and the struggles they went through during their home loan modification.
If you own Cincinnati real estate and are having problems making your mortgage payments this program may offer some assistance. Visit the official site to learn if you are eligible to take advantage of this program.