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HUD Scorecard Helping Struggling Homeowners

HUD has helped millions of struggling homeowners avoid foreclosure and stay in their homes with the completion of more than 10.2 million modifications and other forms of assistance arrangements since April 2009 (as of January 2016), according to HUD’s February Scorecard released this week.

According to HUD, more than 2.5 million of these actions assisting homeowners have taken place through the Making Home Affordable (MHA) program, which was launched in February 2009 in response to the housing crisis. MHA is scheduled to end on December 31, 2016, and the Department of Treasury released its first set of guidelines to servicers for MHA termination earlier in March.

Nearly 1.6 million of those 2.5 million homeowner assistance actions were permanent loan modifications completed through the Home Affordable Modification Program (HAMP). The Federal Housing Administration (FHA) has completed more than 3.1 million loss mitigation and early delinquency interventions during that same period from April 2009 until January 2016.

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