Making Home Affordable Program is Ahead of Schedule

On October 8, nearly a month earlier than the November 1 deadline set earlier this year, the U.S. Department of the Treasury and U.S. Department of Housing and Urban Development (HUD) announced that more than 500,000 trial loan modifications are in progress under the Making Home Affordable program.

The November 1 deadline was set in July so servicers would work at a faster pace to complete the modifications.

The Administration still believes that more can be done to assist struggling homeowners. Senior Treasury and HUD officials will be meeting to discuss how to improve servicer efficiency and responsiveness to borrowers during the modification process.

The most recent Monthly MHA Program Report, which tracks servicer performance through the month of September – ending September 30, 2009 can be found below.

http://www.treas.gov/press/releases/docs/MHA%20Public%20100809%20Final.pdf.

For more great information go to First Time Home Buyers Are Leading The Way.

To find out all the benefits and options for preventing foreclosure, contact Eddie Perez, Broker-REALTOR, CDPE or Anoir Redouane, REALTOR, CDPE. Their market includes Hoboken, Jersey City, Weehawken and Union City. They can be reached at eddie@InvestHoboken.com or 201-344-2886.