The Book On Investing — Federal Government Housing Policy: Homeowner Affordability and Stability Plan

A critical part of the Obama Administration’s broad strategy to help the millions of homeowners still struggling to pay their mortgages avoid foreclosure,  stabilize the housing market, and improve the nation’s overall economy is the Homeowner Affordability and Stability Plan

One part of that plan is the Making Home Affordable program.  This is an official program of the Departments of Treasury & Housing and Urban Development.  The Making Home Affordable program offers a number of mortgage reduction relief programs for individual homeowners.  

If you’re not unemployed, but you’re still struggling to make your mortgage payments, you may be eligible for the Home Affordable Modification Program (HAMP).

If you’re not behind on your mortgage payments but have been unable to get traditional refinancing, you may be eligible to refinance through MHA’s Home Affordable Refinance Program (HARP)

More information on the Making Home Affordable program can be found at www.makinghomeaffordable.gov    

Each month HUD and the Department of Treasury release the Housing Scorecard-a comprehensive report on the nation’s housing market.  Data in December 2011, released January 9, 2012 show some subtle improvement in the housing market as compared to the same period in 2010.  However the data underscore the fragility of the overall housing market as the outlook for stabilizing the market remains mixed.  Home prices showed a slight dip from the November 2011 and remain below levels from a year ago. 

The Housing Scorecard can be found at www.hud.gov/scorecard.

WHAT DOES THIS MEAN FOR THE SAVVY INVESTOR?  You should stay abreast of the latest government policies and market trends.  It will make you more knowledgable in your dealings with real estate buyers and sellers.