HUD and the Treasury Department have launched a new Web site designed to help consumers understand the administration’s loan modification program. The site is MakingHomeAffordable.gov.
The site offers a number of tools to help borrowers determine if they’re eligible to participate in the program. Borrowers can calculate the monthly mortgage payment reductions they could realize under the Obama program. A HUD statement said more than 2,500 loan servicers, investors, representatives of non-profits and housing counselors already have been briefed on the program to assist borrowers.
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