The "Making Home Affordable" Program
President Obama announced the Administration's plan to further prevent foreclosures and assist borrowers with mortgage loan modifications on March 4th, 2009.
The Making Home Affordable program is a $75 billion plan to assist customers who are struggling to make their mortgage payments.
Making Home Affordable is expected to help:
- Home Affordable Refinance: Homeowners who have been continuing to make their monthly payments but have not been able to take advantage of refinance options to historically low interest rates because they have seen their property values fall.
- Home Affordable Modifications: Homeowners who are now struggling to make payments due to reduced or loss of income.
Who is Eligible?
Please use the self-assessment tools provided on the Making Home Affordable web site to see if you are among the 7 to 9 million homeowners who may benefit from Making Home Affordable. Based on your results, next step suggestions will be provided.
Assistance for borrowers facing hardship
Webster Bank is committed to helping our customers keep their homes.
If you have recently spoken with a Loss Mitigation Specialist and have already updated your current financial information there is no need to call right now. We will follow-up with you if we need any additional information or once an appropriate work-out solution has been determined based on your eligibility.
If you have not already contacted one of our specialists and have already missed one or more payments on your Webster loan, our specialists will work with you to determine your eligibility for one or more potential solutions.
To get started call 800-270-5300 or submit the Financial Disclosure Statement and supporting documents to 609 West Johnson Ave. CH450, Cheshire, CT 06410. You may also fax the documents to 203-294-8369 or email them to LossMitigation@WebsterBank.com.