The U.S. Department of Housing and Urban Development offers programs that help citizens with home buying, home ownership, and housing, credit and rental assistance. These services are available to first-time home buyers and existing homeowners, as well as disadvantaged populations, including the elderly and low-income families.
For first-time home buyers, the Federal Housing Administration offers low-interest loans, credit assistance, and expert advice to guide buyers through the purchase process. Existing homeowners can get help avoiding foreclosure through either the FHA or the Making Home Affordable programs. Both programs offer mortgage refinancing options with no out-of-pocket costs. The MHA program has additional mortgage modification options for homeowners seeking lower monthly payments, those who are unemployed or have a second mortgage, or those whose mortgage is more than the value of the home.