Official Web Site of the City of Phoenix

President Obama has allocated a $75 billion for a foreclosure prevention program, called the Homeowner Affordability and Stability Plan which will help homeowners current or delinquent on their mortgages modify their loans to affordable terms.

More information on the new program "Making Home Affordable" is available at www.financialstability.gov. Details of the program are still under development, and information about the program will be updated frequently as additional details are available.

Contact a local HUD approved housing counselor for foreclosure assistance, there is no fee to borrowers for this assistance. Beware of any organization that attempts to charge a fee for housing counseling or modification of a delinquent loan, especially if they ask for money in advance. Borrowers who are delinquent and have not yet been in contact with their lender should call their servicer or a HUD-approved housing counselor immediately, whether or not they believe they are eligible for the Homeowner Stability Initiative.