Phoenix, AZ -- (SBWire) -- 07/30/2014 --The idea that someone could lose his home to his lender is just scary, and he may not know how to stop foreclosure and eviction from his house. That’s where Credit-yogi.com comes in. This well-established website provides fiscal guidance and assistance such as information on the Making Home Affordable program that can save a person’s home. The initial consultation is free. Here are the following solutions:

- Making Home Affordable
- HUD
- HAMP
- HARP

What’s Making Home Affordable All About?

Back in 2009, the Obama administration created the Making Home Affordable program to help struggling homeowners keep their domiciles by showing them how to stop foreclosure and eviction. The program works through the Department of Housing and Urban Development (HUD) and through program-approved lenders. There are several components to the program, the most accessible of them to be discussed further on. All of them are available to help folks facing foreclosure.

HUD Helpful Connections

To get to HUD, one can call the Federal Housing Administration (FHA), which is part of HUD, at 1-800-225-5342 (1-800-CALL-FHA). Two solutions to stopping foreclosure offered through them are the Principal Reduction Alternative (PRA), which urges lenders to reduce the principal of a mortgage by offering them incentives, and the FHA Forbearance for Unemployed Homeowners, which makes it possible for a troubled homeowner to not pay his mortgage for up to 12 months. For more information on this assistance, stop by Credit-yogi.com and learn what else is out there.

Home Affordable Modification Program (HAMP)

HAMP is the most accessible of the MHA programs. Hundreds of thousands of homeowners have received this plan’s aid and kept their houses. By modifying one’s mortgage loan, it’s possible to stop foreclosure and eviction from one’s home. Modifying a mortgage means that changes are made to it that lower the payment. Some of these changes are reducing the interest rate or increasing the length of repayment period. Both of these are excellent ways to remain in one’s home.

Home Affordable Refinancing Program (HARP)

Similarly to HAMP, HARP lowers the monthly mortgage payment through the same methods HAMP does. However, this program is specifically crafted for those who are “underwater” in their mortgages. This means, as one could find out from Credit-yogi.com with just one visit, that the house is no longer worth the amount the owner is paying for it. Refinancing (the “R” part of HARP) is the process by which one’s original mortgage loan is paid off and a new one is drawn up in such a way that the overall payment is less than it was prior to refinancing.

About Credit-yogi.com
Fifteen years ago, Credit-yogi.com was created to answer consumers’ needs to acquire accurate, rapid responses to their fiscal questions. Backed by the power of 260,000 financial and legal wizards, the website has continually met the demands of its visitors. For a no-cost preliminary consult, dial 1-866-964-9644. Call any time – even on a Sunday night.