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Rdable (MHA) Program to stabilize the housing market and to help struggling homeowners get relief and avoid foreclosure. In March 2009, the U.S. Department of the Treasury (Treasury) issued uniform guidance for loan modifications by participants in MHA across the mortgage industry and subsequently updated and expanded that guidance. On September 1, 2011 Treasury issued version 3.3 of the Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages (Handbook), a consolidated resourc.

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Related content

Home Affordable Modification Program: Overview...
Oct 1, 2014 - The Home Affordable Modification Program (HAMP) is designed to help...
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HAMP was created under the Troubled Asset Relief Program (TARP) in response to the subprime mortgage crisis of 2008. 2 During this period, many American homeowners found themselves unable to sell or refinance their homes after the market crashed because of tighter credit markets.

The Home Affordable Modification Program (HAMP), created in 2009 by the federal government, made it possible for struggling homeowners to stay afloat by modifying the original terms of their mortgage loans. The program ended in 2016, but other mortgage modifications programs have cropped up.

HAMP works by encouraging participating mortgage servicers to modify mortgages so struggling homeowners can have lower monthly payments and avoid foreclosure.

In early 2009, Treasury launched the Making Home Affordable® Program (MHA) to help struggling homeowners avoid foreclosure.

The main activity under MHA is the Home Affordable Modification Program. Other programs under MHA include: Principal Reduction Alternative (PRA), assists homeowners with a loan-to-value ratio exceeding 115 percent. Home Affordable Unemployment Program (UP), temporary forbearance for unemployed homeowners.

HAMP works by encouraging participating mortgage servicers to modify mortgages so struggling homeowners can have lower monthly payments and avoid foreclosure. It has specific eligibility requirements for homeowners and includes strict guidelines for servicers.

The Home Affordable Unemployment Program, or UP, reduces or suspends monthly mortgage payments to give borrowers a cushion while they look for another job. It temporarily stops required payments for up to 12 months or reduces them to no more than 31% of gross income.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232