Making Homeownership Affordable
[11/12/2009] - We have learned of federal programs that have been designed to assist homeowners who are struggling with their mortgage payments.  There are two programs that have been set up by the federal government.  The first one was created to assist people who have homes that are now worth less than what is owed on the mortgage.  The second program is to modify mortgage loans for people who are experiencing a significant loss of income.  This may apply to individuals who are unemployed, individuals whose spouse is unemployed, or individuals who have had their hours or pay reduced.  These programs were brought to our attention by unemployed members that were able to qualify to have their monthly mortgage payments reduced.  The following is a link to a website for the Making Home Affordable program.  This website explains the programs that are available.  It also explains the criteria that must be met to qualify for the programs. You may also speak to a housing counselor from the Making Home Affordable program by telephone at (888) 995-4673. I hope that members of Local 281, U.A. and their families find this information useful. link