President Obama's plan was created to help millions of homeowners refinance or modify their mortgages.

Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today's lower mortgage rates perhaps due to a decrease in the value of their home. A Home Affordable Refinance will help borrowers whose loans are held by Fannie Mae or Freddie Mac refinance into a more affordable mortgage.

Many homeowners are struggling to make their monthly mortgage payments either because their interest rate has increased or they have less income. A Home Affordable Modification will provide them with mortgage payments they can afford. DCU will be reaching out to members who are 31 days or more past due on their mortgage to let them know the best way to proceed for a Modification.

Please use the self-assessment tools provided on the official U.S. Treasury Making Home Affordable website for both programs to see if you are among the seven to nine million homeowners who may benefit from the Making Home Affordable program. Based on your results, we will provide suggestions about what you can do next.

you may have access to the benefits of the Home Affordable Refinance portion of the program to be refinanced. In the next few weeks, program details provided by the government will be implemented to assist those members who meet the program guidelines.

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Getting help early is key to keeping even temporary financial problems from turning into major, complex, long-term difficulties. DCU encourages all members to contact us before you feel overwhelmed so that we can best assist you. We have a number of financial wellness and recovery programs available and we are here to help you.

Call DCU at 508.263.6700 or 800.328.8797 and ask to speak to a Financial Wellness Representative or email us to find out more about the program and determine if it is right for you.

DCU Members can get FREE unbiased financial advice and assistance on debt and budget management through BALANCE.

BALANCE can be reached by calling them toll-free at 888.456.2227. Counselors are available:

Eastern Time

For more information select here.

DCU's vision is that all members achieve their financial goals. We believe that unbiased, detailed consumer education is essential for you to achieve your financial goals. To do so, we have created a series of informative guides and articles that we hope you find helpful.