August 2, 2012

Breaking Down the Mortgage Servicing Settlement: How it Helps You

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This post is also available in: Spanish

By now, I’m certain that you’ve heard about the historic $25 billion National Mortgage Servicing Settlement.  Along with 49 state attorney generals, the Federal government reached an agreement with the Nation’s five largest loan servicers to hold the banks accountable for their actions and to provide relief to distressed homeowners.  It is our goal to ensure that every single eligible family is aware of the help the settlement provides.

Today, Secretary Donovan and Iowa Attorney General Tom Miller joined together to announce a public service announcement designed to educate homeowners about the resources available to them through the mortgage servicing settlement.

Along with the public service announcement, Secretary Donovan and AG Miller announced the unveiling of a website on hud.gov dedicated to providing information to homeowners.  “Homeowner Help” features information about the settlement, how to find a HUD-approved housing counselor, tips to avoid foreclosure and how to get help from the Making Home Affordable program.  Visitors to the site will also be able to access a new Mortgage Assistance Guide which is available to help housing counselors who provide assistance to homeowners in need.  This guide will provide counselors with  the information they need to ensure homeowners understand the options that are available to them.

Visit HUD.gov/HomeownerHelp and let us know what you think.

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