Administration announced Thursday that it will extend its Making Home Affordable Program to help home
owners avoid foreclosure, as well as use Treasury funds to ramp up construction of affordable rental housing. The Making Home Affordable Program will now be extended through December 2016. More than 1.3 million home owners have already used program to modify their mortgages. Although nationwide foreclosure rates have started dropping, millions of families are still struggling. Different estimates of underwater households range from 6.5 million to 9.7 million at the end of 2013. Foreclosure Market Report.
owners avoid foreclosure, as well as use Treasury funds to ramp up construction of affordable rental housing. The Making Home Affordable Program will now be extended through December 2016. More than 1.3 million home owners have already used program to modify their mortgages. Although nationwide foreclosure rates have started dropping, millions of families are still struggling. Different estimates of underwater households range from 6.5 million to 9.7 million at the end of 2013. Foreclosure Market Report. 
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