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The Federal Government’s Making Home Affordable programs

Government home loan assistance programs. Making Home Affordable is the federal government's plan to help millions of homeowners avoid foreclosure by reducing their monthly mortgage payments to more affordable levels.

What are the Making Home Affordable programs?

Programs at a glance

The federal government’s Making Home Affordable (MHA) programs are designed to help homeowners who are struggling to stay in their homes. By participating in these programs, Bank of America is helping to make monthly mortgage payments more affordable for borrowers who have suffered a hardship or have lost significant value in the property due to the current financial crisis. Current MHA programs include:

Home Affordable Refinance

If you do not have enough equity to qualify for traditional refinancing, you may still be able to refinance at a lower interest rate.

Home Affordable Unemployment Program

If you are currently unemployed, you may qualify for suspended payments while you look for new employment.

Home Affordable Modification

If you cannot afford your monthly mortgage payments due to a financial hardship, you may qualify for a loan modification.

Have an FHA-insured home loan? (How do I know?)

Home Affordable Modification Program Military Modification

If you are a military servicemember having difficulty making your mortgage payments, you may be eligible for assistance, including principal forgiveness.

Home Affordable Second Lien Modification

If you have permanently modified your first mortgage under HAMP, help may be available for your home equity loan or home equity line of credit.

Home Affordable Foreclosure

If you are worried about a foreclosure, this government program offers alternatives for settling your mortgage debt and benefits such as relocation assistance.