Quote:
Originally Posted by TheMercenary
It still begs to ask, why are we helping so many people who made bad decisions when all those who pay on time are still screwed with the deals they made?
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The new "Making Home Affordable" mortgage assistance program is not only (or not even primarily) for those who "made bad decisions."
It is for those who "pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home"
And those homeowners "struggling to make their monthly mortgage payments either because their interest rate has increased or they have less income."
More on the
FinancialStability.gov website.
Including self-assessment tools to see if you are among the 7 to 9 million homeowners who did not necessarily "make bad decisions" and are paying their mortgage on time or who might be struggling to meet payments because of recent job loss.
The
Fact Sheet (pdf) has more details.