The Making Home Affordable Programs have been a critical part of the Obama Administration’s effort to prevent struggling homeowners from falling into foreclosure and stabilize the housing market from the historic housing crisis. The dead line for applications was previously December 31, 2013, as of May 2013 the dead line was extended to December 31,2015 to align with the deadline extensions for programs like HARP.

The extension of this program will benefit many additional families who are still struggling to keep up with their payments. Since the program was introduced back in 2009 over 1 million borrowers have been helped avoid a credit damaging foreclosure and remain living in their beloved home. It has also allowed those borrowers in different situations walk away from the home with no pursuit for the deficiency. Programs like HAFA allowing for lenders to pay a borrower relocation assistance for up to 5 thousand dollars.

The making home affordable programs have also helped enforce new regulations in the mortgage servicing industry, and have also put new laws protecting borrowers into place. This extension will surely provide aid to thousands of distressed homeowners. If you are struggling with your mortgage, have no equity and want to sell, or want to remain in your home, do not hesitate to reach out for aid. if you have been previously declined for a program you can have your mortgage reevaluated for an unlawful decline and possibly have your case resubmitted for government assistance.