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Making Home Affordable

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The Obama Administration recently announced the Making Home Affordable Program, designed to assist up to nine million American families refinance or modify their loans to a monthly mortgage payment that is more affordable. Due to the over-whelming interest in the plan, homeowners are increasingly becoming the target of scammers trying to take advantage of families with false promises and steep fees to provide foreclosure assistance. With President Obama's plan, a homeowner NEVERhas to pay to participate in the program. If you wish to obtain counseling assistance, the U.S. Department of Housing and Urban Development (HUD )urges you to contact a local HUD-approved housing counseling agency to ensure they are receiving legitimate information.

HUD Counseling Agencies

HUD counseling agencies are designed to provide advice to consumers on:

  • Buying a home
  • Renting a home
  • Loan defaults
  • Foreclosures
  • Credit Issues
  • Reverse mortgages

The U.S. Federal Trade Commission works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. If you feel you have been a victim of a foreclosure scam, to file a complaint or to get free information on consumer issues, contact: www.ftc.gov or 877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261

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