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Making Home Affordable An official program of the Departments of the Treasury & Housing and Urban Development


 Key Concepts

For most homeowners, seeking help through Making Home Affordable is a new experience. The process involves financial terms and concepts that many are not familiar with. Navigating your way through these unfamiliar waters can be intimidating. But the more you know, the better off you are. To help you increase your knowledge, we have compiled some key concepts that homeowners often tell us they want explained in detail:


Understanding Net Present Value ›

Whether you have already applied for or are considering the Home Affordable Modification program, you can visit to learn more about the NPV evaluation process.

Understanding Your Mortgage Statement ›

Commonly used terms and their definitions that may help you better understand your mortgage statement.

Understanding the HAMP Trial Period ›

During the trial period, borrowers must make all trial payments in order to be eligible for a permanent HAMP modification.

Understanding Modification Rate Step Ups ›

Important Modification Reminder! If you received a HAMP modification and your modified mortgage is approaching the five year mark, please review your loan paperwork to see if your rate will adjust in 2014 or 2015.


Last Updated: 8/20/2014 10:39 AM

Help is a Phone Call Away

888-995-HOPE (4673)
Hearing impaired: 877-304-9709 TTY

As you enter a process that can sometimes be overwhelming, it would be in your best interest to engage a housing expert to help you along the way. Let a HUD-approved housing counselor help you understand your options, prepare your application, and work with your mortgage company.

Hear it from Homeowners

Curtis and Darlene, Chicago IL

Curtis and Darlene of Chicago, IL

Curtis and Darlene had lived in their home for 35 years when Curtis lost his job. That’s when MHA helped them cut their mortgage payments in half.

Beware of Scams


Unfortunately, and far too often, homeowners looking for mortgage help end up victimized by scam artists. Know the warning signs to protect yourself, your money, and your home.

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