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The End of Make Home Affordable aka the Modification Hell Act

Livinglies's Weblog

The End of MHA

The Making Home Affordable (MHA) program did what it intended to do- it Greased the Runways so unsuspecting homeowners operating in good faith would be forced into default. The final Program Performance Report Through The Fourth Quarter of 2016, includes the last results as all MHA programs ended on December 31.  The report details the “improvements” made since 2009 when MHA was implemented and assesses the pathetic quality of certain servicers.  Although delinquencies and foreclosures have dropped moderately since its inception, the oversight of servicers provided by MHA programs brought little  improvement because of this policy that was created by the Fed to benefit the banks.

According to the report, since 2009, delinquencies have dropped from 6.1 million to 2.7 million. Over 3 million homeowners were underwater as of December 31, a drop from 10.2 million in 2009. And as of December 31, foreclosures starts…

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