home ownership
Rx For Mortgages?
Patricia Burkhardt
Columnist
T
he Jewish Housing
Association of Metropolitan
Detroit assists families with
significant mortgage pay-
ment issues and assists those current
on their home loans but unsure if they
qualify for mortgage payment reduc-
tions. JHA's staff of certified loan
counselors will help all borrowers with
any housing questions including:
• Fixing adjustable and option rate
mortgages;
• Reducing rates on mortgages;
• Advising on sales options for
homes that have a mortgage balance
greater than the value of the home;
• Assisting clients who are late on a
payment or are in foreclosure;
• Reviewing housing options avail-
able to families to meet current goals.
Services are confidential and free.
JHA welcomes questions and will
respond in this JN column. E-mail
questions to advocacy@jhamd.org .
asset. How, and when, the govern-
ment and lenders will agree on princi-
pal reduction is still unknown. Li
Patricia Burkhardt is managing director
of the JHA of Metropolitan Detroit.
JHA
The Jewish Housing Association
of Metropolitan Detroit Inc. is
a nonprofit corporation whose
purpose is to ensure that no Jew-
ish family goes without afford-
able housing and to assist the
community during this of crisis.
For information or to obtain as-
sistance, call (800) 458-0404 or
apply online at www.jhamd.org.
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Has the government been success-
ful in its response to the housing
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make the Nexus®
crisis through its Making Home
Affordable Program?
Not yet. One purpose of MHAP was
to allow households that have afford-
ability issues to reduce their monthly
payments. As of Dec. 31, about
900,000 borrowers had applied. As
14.5 percent of households are cur-
rently delinquent, the plan is off to a
slow start. Confusion runs rampant on
the part of mortgage servicers taking
applications and borrowers submitting
applications. JHA works with borrow-
ers in the Jewish community to make
the process simple and has been suc-
cessful getting loan modifications and
other workout options.
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If my home is worth less than my
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paying my home loan?
No. While the government, mort-
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