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 Lower Your Payments

Through MHA mortgage modifications, homeowners have been able to obtain lower mortgage payments and realize significant savings each month. For homeowners who have seen their home values drop, there are other options that can provide relief. Learn more about these MHA programs:

"Don't ignore it...get the help you need, get the advice you need. It's the best thing I can suggest, just having somebody to talk to."

Allan - Homeowner

Home Affordable Modification Program (HAMP) ›

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.

Principal Reduction Alternative (PRA) ›

If your home is currently worth significantly less than you owe on it, you may be eligible for MHA's Principal Reduction Alternative (PRA).

Second Lien Modification Program (2MP) ›

If your first mortgage was permanently modified under HAMPSM and you have a second mortgage on the same property, you may be eligible for a modification or principal reduction on your second mortgage as well.

FHA Home Affordable Modification Program (FHA-HAMP) ›

If you have a loan that is insured or guaranteed by the Federal Housing Administration (FHA), you may be eligible for a program through that government agency.

USDA’s Special Loan Servicing ›

If you have a loan that is guaranteed by the United States Department of Agriculture's (USDA) Section 502 Single Family Housing Guaranteed Loan Program, you may be eligible for a program through that government agency.

Veteran’s Affairs Home Affordable Modification (VA-HAMP) ›

If you have a loan that is insured or guaranteed by the Department of Veterans Affairs (VA), you may be eligible for a program through that government agency.

Key Terms on This Page:

Mortgage ModificationA process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower. For example: Changes in the interest rate, length of the loan or balance (how much you owe) on the loan., Principal ReductionLowering the amount of money owed on the mortgage, excluding interest., Second MortgageA secured loan that is secondary to another loan against the same property (also known as a second lien).,
Verified Monthly Gross (pre-tax) IncomeThe amount of money earned or received each month before taxes and any payroll deductions are taken out, as confirmed by your paystub or other income documentation.

Last Updated: 5/31/2012 1:05 PM

Help is a Phone Call Away

888-995-HOPE (4673)
Hearing impaired: 877-304-9709 TTY

As you enter a process that can sometimes be overwhelming, it would be in your best interest to engage a housing expert to help you along the way. Let a HUD-approved housing counselor help you understand your options, prepare your application, and work with your mortgage company.

Homeowner's HOPE™ Hotline

Hear it from Homeowners

Curtis and Darlene, Chicago IL

Curtis and Darlene of Chicago, IL

Curtis and Darlene had lived in their home for 35 years when Curtis lost his job. That’s when MHA helped them cut their mortgage payments in half.

See their story (PSA)

Beware of Scams

 

Unfortunately, and far too often, homeowners looking for mortgage help end up victimized by scam artists. Know the warning signs to protect yourself, your money, and your home.

Get tips to avoid scams.

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