Alabama Making Home Affordable Program Options
Making Home Affordable is a federal program designed to cover different homeowners’ hardships and financial situations.
Under the program, there are various options that can help Alabama homeowners in hardship stay in their homes.
Depending on the situation Alabama homeowners in hardship can apply to lower their monthly payments, lower the interest rate on their home loan or even get a principal reduction in some cases.
There are foreclosure alternatives and temporarily help for unemployed homeowners facing financial hardship as well.
Here are some of the most used options under Making Home Affordable Program:
•Lower your monthly mortgage payments with Home Affordable Modification Program (HAMP)
•Lower your interest rate with Home Affordable Refinance Program (HARP)
•Check eligibility for principal reduction with Principal Reduction Alternative SM (PRA)
• Get help if currently unemployed with Home Affordable Unemployment Program (UP)
•Reduce your 2nd mortgage monthly payments with Second Lien Modification Program (2MP)
•Explore your foreclosure alternatives with Home Affordable Foreclosure Alternatives Program (HAFA)
•FHA Home Affordable Modification Program (FHA-HAMP)
Call an HUD-approved housing counselor at 888-995-4673 (Hearing impaired: 877-304-9709 TTY) to help you understand your options, prepare your application, and work with your mortgage company.
Find more about Alabama Housing Assistance options.
Housing Counseling Services
Contact one of the HUD Approved Housing Counseling Agencies in Alabama State for the following education workshops or counseling services
– Fair Housing Pre-Purchase Education Workshops
– Financial Management/Budget Counseling
– Financial, Budgeting and Credit Repair Workshops
– Home Improvement and Rehabilitation Counseling
– Mortgage Delinquency and Default Resolution Counseling
– Non-Delinquency Post Purchase Workshops
– Pre-purchase Counseling
– Pre-purchase Homebuyer Education Workshops
– Predatory Lending Education Workshops
– Rental Housing Counseling
– Rental Housing Workshops
– Resolving/Preventing Mortgage Delinquency Workshops
– Services for Homeless Counseling