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If a homeowner does not live in the house that secures the mortgage they’d like to modify, is this mortgage eligible for the Making Home Affordable program?

April 26, 2017eligible Home Homeowner House live mortgage secures

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If a homeowner does not live in the house that secures the mortgage they’d like to modify, is this mortgage eligible for the Making Home Affordable program?

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No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible. If you used to live in the home but you moved out, the mortgage is not eligible. Only the first mortgage on your primary residence is eligible. Mortgages on 2, 3 and 4 unit properties are also eligible as long as you live in one unit as your primary residence.