Making Home Affordable

 Additional Programs Under MHA

As the housing crisis evolved, Treasury launched additional programs under MHA to help struggling homeowners find a solution that was right for their situation. These include: 
  • The Principal Reduction Alternative (PRA) assists homeowners with a loan-to-value ratio exceeding 115 percent.
  • The Home Affordable Unemployment Program (UP) is designed to provide temporary forbearance for unemployed homeowners.
  • The Second Lien Modification Program (2MP) provides a mechanism for servicers to modify second liens when a homeowner receives a first lien modification through HAMP.
  • The Home Affordable Foreclosure Alternatives Program (HAFA) helps homeowners exit their homes and transition to a more affordable living situation through a short sale or deed-in-lieu of foreclosure. HAFA provides a streamlined process and important protections for homeowners.  
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Last Updated: 1/30/2017 3:16 PM