Is this the new symbol of economic recovery? Let’s keep our fingers crossed.
This is the new logo for Barack Obama’s “Making Home Affordable” program, which was introduced on March 4 to “stimulate” the housing market and reduce interest rates/loan amounts for homeowners struggling to meet their monthly mortgage obligations.
The official “Making Home Affordable” Web site can be found right here.
Here are the three basic goals of the program:
- Refinancing for up to 4 to 5 million responsible homeowners to make their mortgages more affordable
- A $75 billion homeowner stability initiative to reach up to 3 to 4 million at-risk homeowners
- Supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac
For eligibility requirements click here.
I’m one of those looking forward to seeing how the Making Home Affordable program will go. I hope it will be mostly positive though, because if so this is probably the best step so far that the Obama administration has ever done.
What a sad program. Let’s only help people who haven’t missed a payment yet… I have not seen one person helped yet… in fact the banks are getting less and less responsive.