Obama Administration Kicks Off Mortgage Modification Conversion Drive

11/30/2009

The U.S. Department of the Treasury and Department of Housing and Urban Development (HUD) today kick off a nationwide campaign to help borrowers who are currently in the trial phase of their modified mortgages under the Obama Administration’s Home Affordable Modification Program (HAMP) convert to permanent modifications.  The modification program is part of the Administration’s broader commitment to provide relief to struggling homeowners and is a primary focus of financial stability efforts moving forward.  Roughly 375,000 of the borrowers who have begun trial modifications since the start of the program are scheduled to convert to permanent modifications by the end of the year.  Through the efforts being announced today, Treasury and HUD will implement a host of new outreach tools and borrower resources to help convert as many trial modifications as possible to permanent ones.

More information about the Obama Administration’s mortgage modification program can be found at www.MakingHomeAffordable.gov.

 

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