Are you eligible for mortgage help?

What if I am already in foreclosure?
Many lenders have made a commitment to postpone foreclosures on mortgages that meet the eligibility requirements of this program until the loan can be evaluated to see if the borrowers can qualify for the program. Ask your lender if this is an option.

Are there other benefits to participating in this program?
Yes. After the 90-day trial period, borrowers will be given "success incentives" for making payments on time. These payments will be made directly to the lender to reduce the principal on the mortgage and can equal as much as $5,000 at the end of the five years of the program.

Do I have to participate in a debt counseling program?
While everyone is encouraged to meet with a counselor from a HUD-approved housing counseling agency or a National Foreclosure Mitigation Counseling Program, or NFMC, only those borrowers with a 55 percent or higher overall (all monthly debts exceed 55 percent of monthly income) debt-to-income ratio are required to receive counseling.

Where can I go for more information?
Talk to your lender or visit FinancialStability.gov, the government's official Web site for programs associated with the Making Home Affordable plan.