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Making Homes Affordable program

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By Veronica Dietrich - email

Amarillo, Texas - If you're struggling to make your mortgage payment each month, a program is allowing more homeowners to get help.

As of early last month, Amarillo has had 481 home foreclosures this year.

The Amarillo Association of Realtors tells us the five year average is 546 per year.

Our area foreclosures are much lower than anywhere in the United States, but they clearly still exist.

The "Making Your Home Affordable" program will be more available to homeowners by making the debt to income ratio more lenient.

Amarillo National Bank's Lissa Lanning says, "we have a lot of borrowers out there who have a lot of monthly debt who can't afford to make their monthly mortgage payment. So there just being more lenient with that guideline. Whereas if your debt to income ratio is higher, maybe we couldn't get you qualified for the program last year. But this year with the terms being more lenient we would be able to hopefully."

January is the highest month for foreclosures in the United States.

If you have any questions or for more information, contact Amarillo National Bank's mortgage department at 378-8000.

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