Making Home Affordable Program
Freddie Mac is pleased to play a key role in sustaining homeownership and supporting the federal Making Home Affordable Program, announced on March 4, 2009.
As a Freddie Mac Seller/Servicer, you play a vital role in implementing this program and assisting borrowers who have Freddie Mac-owned mortgages with:
Freddie Mac Relief Refinance Mortgage offers two options, which are designed to help borrowers who are making timely mortgage payments but have been unable to refinance due to declining property values and tightening credit terms.
Home Affordable Modification Program, which offers a strong foreclosure prevention solution by expanding eligibility to borrowers with Freddie Mac-owned mortgages who are delinquent, as well as borrowers who are current but in imminent danger of default.
Home Affordable Foreclosure Alternatives initiative strives to help borrowers with mortgages owned by Freddie Mac who do not qualify for or complete HAMP or other home retention options under Single-Family Seller/Servicer Guide Chapter B65 transition to more affordable housing and avoid foreclosure.
HFA Mortgage Assistance Programs provide temporary financial assistance to eligible unemployed and underemployed borrowers with options that help them make their monthly mortgage payments or bring their delinquent mortgage current through a one-time reinstatement payment.
By helping more borrowers through these offerings, we can work together to be a critical and stabilizing force for the nation’s families and their communities.