New Web Site Provides Home Owner Relief Information

A new Web site for consumers seeking information about the Obama Administration’s Making Home Affordable loan modification and refinancing program — www.MakingHomeAffordable.gov — was launched last week by the Treasury Department and the Department of Housing and Urban Development.

The site includes interactive self-assessment tools that enable borrowers to determine if they are eligible for the program and to calculate the monthly mortgage payment reductions they stand to realize.

First announced by President Obama last month, the program will offer assistance to as many as seven to nine million home owners who have making a good-faith effort to pay their mortgages.

Since releasing the guidelines on March 4 to enable servicers to begin modifications to eligible mortgages under Making Home Affordable, representatives from the Treasury, HUD and other members of a broad interagency task force have conducted detailed briefings and training sessions for mortgage loan servicers and investors, nonprofit housing counselors and borrower advocacy groups.

More than 2,500 participants were briefed on the Administration’s plan in the first two weeks following the release of the program’s specifics.

The Treasury has reported that a wide array of servicers — from large banks to small lenders — have agreed to participate in the program.

Features of the www.MakingHomeAffordable.gov Web site also include:

• Extensive information about the Administration's Making Home Affordable plan
• Resources to find free, HUD-approved counseling services for borrowers who have additional questions
• A handy checklist to ensure that home owners collect all the documents they need before calling their servicers

Beach to Bay Real Estate Center is a full service real estate brokerage servicing buyers, sellers and renters at the Delaware beach areas. We handle all forms of real estate, including residential, commercial, and lots and land, in addition to bank owned, short sales and auctioned properties and representation; mortgage needs including refinances, new home purchases, second homes, first time homebuyer programs and reverse mortgages; maintain professional relationships with local settlement attorneys, insurance companies, contractors, and inspection companies; and are affiliated with a preservation and restoration company. Beach to Bay services all of Sussex County, and southern Kent County, with a strong focus on the beach resort areas of Rehoboth Beach (19971), Lewes (19958), Bethany Beach (19930), Dewey Beach (19971), Milton (19968), Millsboro (19966) and more.