Thursday, May 31, 2012

House Democrats promote program to help homeowners avoid foreclosure

House Democrats promote program to help homeowners avoid foreclosure

The Making Home Affordable program provides resources to people trying to keep homes


STATE CAPITOL, PHOENIX – Recently, Arizona House Democrats joined U.S. Department of Housing and Urban Development Secretary Shaun Donovan on a call to discuss the Making Home Affordable program.

“Middle-class families in Arizona deserve our focus,” Rep. Debbie McCune Davis, D-Phoenix (District 14), said. “This program will help some people keep their homes when they would have to foreclose otherwise.”

The Making Home Affordable program is part of a broad strategy to help homeowners in Arizona and across the country avoid foreclosure. White House officials put the program in place to address one of the items on the “To Do List” created for the U.S. Congress. More information on the “To Do List” is available at www.whitehouse.gov/blog/2012/05/10/congresss-do-list.

“Arizona House Democrats are working diligently to find resources for Arizonans struggling to keep their homes,” McCune Davis said. “That’s why we tried to stop Tea Party Republicans from sweeping $50 million from the Arizona Attorney General’s Mortgage Settlement Fund, which was supposed to be used to provide services to families hit hardest by the mortgage crisis. That effort was blocked, but we’ll continue to find ways to help. The Making Home Affordable program offers support, resources and hope for people trying to avoid foreclosure.”

There is a variety of assistance available to homeowners including:

• Lowering monthly mortgage payments

• Principal reduction alternatives

• Foreclosure alternatives

• Affordable refinance options

• Resources for unemployed homeowners and homeowners who owe more than their homes are worth

Through the program, HUD-approved housing counselors will advise homeowners as they gather documentation, complete paperwork and work with mortgage companies. This will help people avoid scams.

“These are real experts providing real advice for real problems,” McCune Davis said. “It is hard to know where to start when trying to save a home from foreclosure. It becomes even more difficult when there are so many companies and people out there willing to exploit the situation. Having reliable help from trained professionals is invaluable.”

 
More information about the Making Home Affordable program is available at www.makinghomeaffordable.gov or by calling 888.995.HOPE (4673).



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