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Clock is Ticking: 4 Things to do BEFORE the MHA Deadline33Clock is Ticking: 4 Things to do BEFORE the MHA DeadlineSean Bennett2016-12-05T05:00:00Z<div class="ExternalClassDAFEFC06502E4C2997F7901DD7A32E13"><p>​After nearly eight years of helping homeowners avoid foreclosure through the Making Home Affordable (MHA) Program, we are down to the wire as the program rapidly approaches its end later this month. Feeling like your chances of getting help through MHA are near impossible because we’re less than 30 days away from the application deadline? No need to worry just yet. Here are four things homeowners can do as the window of opportunity to apply for mortgage help through MHA comes to a close.  </p><ol><li> <strong>Spread the word: the MHA program REALLY will end after December 30, 2016. </strong>After recently traveling to one of our final partner events last month, we found that many individuals were skeptical that the program was ending after December 30, 2016. They cited previous deadline extensions and assumed there would be yet another extension this year. Some were completely unaware that the MHA Program was ending. It is important that we stress there is NO chance for another deadline extension and that the program REALLY is ending! In fact, Congress signed the deadline into law when it passed the Consolidated Appropriations Act in 2015. </li><li>Though the application deadline is less than 30 days away, <strong>homeowners still have time to gather documentation to make the application process easier.</strong> We’ve drafted a rough <a href="/SiteCollectionImages/blog-images/Timeline_Graphic_img.png">timeline for homeowners to use as a guide</a> while gathering the paperwork required to submit the Request for Mortgage Assistance (RMA). Homeowners MUST submit their application before midnight on December 30, 2016!</li><li>In addition to being aware of the deadline, <strong>be careful to avoid loan modification scams.</strong>  Many fraudsters are leveraging the MHA Program end date to pressure homeowners into applying for loan modifications that simply never come to fruition, often at a heavy cost. Be on the lookout for fake “government offerings” and remember, charging fees in advance of a mortgage modification is illegal in most cases. </li><li> <strong>Should you miss the MHA application date, or run into mortgage trouble after December 30, 2016, all is not lost.</strong> Many mortgage lenders have taken note of the positive effects the MHA Program has had on the loss mitigation industry, modeling their loan modification programs after ours. We, the U.S. Department of the Treasury (Treasury), along with the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) even provided <a href="https://www.treasury.gov/press-center/press-releases/Documents/guiding-principles-future-of-loss-mitigation.pdf">guidelines</a> for the mortgage servicing industry to adopt as they retool and build out the framework for a standard universal modification process for the future. </li></ol><p> </p><p> <img alt="MHA ends Dec 30th. Call 888-995-4673 today" src="/SiteCollectionImages/blog-images/Blog_Image_Dec.jpg" style="margin:5px;width:500px;height:574px;" /> </p><p>Remember, there’s still time to apply for mortgage help through MHA, but troubled homeowners must act NOW to get the ball rolling on their journey to a more affordable mortgage. Still unsure of where to start? Call 888-995-HOPE™ (4673) to speak with a HUD-approved housing counselor who can help you through the process.  </p><p> <br> <em>Séan Bennett is Director of Marketing & Outreach for the Homeownership Preservation Office.</em></p></div>https://www.makinghomeaffordable.gov

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Last Updated: 9/22/2016 9:48