House Puts Making Home Affordable Under the Microscope

The House Financial Services Subcommittee on Housing and Community Opportunity on Wednesday studied the progress of the Making Home Affordable Program (MHA Program).

On March 4, 2009, the Obama Administration introduced MHA Program to stabilize the housing market and reduce monthly mortgage payments for Americans. The program aimed to help 3-4m homeowners, and so far 15% of eligible homeowners — or 2.7m — received help after six months, according to Federal Housing Administration (FHA) commissioner David Stevens.