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Obama Administration Extends Making Home Affordable Program

WOW so did you hear the news? Just today the U.S. Secretary of the Treasury Jack Lew announced Thursday that Treasury is extending the Making Home Affordable Program for another two years. The new expiration date is now set for December 31, 2015.

The program offers help to homeowners through solutions including the Home Affordable Modification Program (HAMP), Home Affordable Foreclosure Alternatives (HAFA), and the Second Lien Modification Program.

Did you know as of March, an estimated 1.1 million struggling homeowners have received a permanent modification through HAMP? This is awesome news for Home Owners who want to keep their homes, there just might be hope out there after all. It is the American Dream to own a home right?

The move aligns with the Federal Housing Finance Agency’s (FHFA) extension for the Home Affordable Refinance Program (HARP), which was first announced in April.

Whats your take on this?