The Home Affordable Modification Program
In 2009, the US government created the Making Home Affordable program, which helps homeowners stay in their homes and help them avoid foreclosures. The goal of this program was to incentivize lenders, and brokers, to modify homeowner loans in order to make payment more affordable. HAMP Eligibility You may be eligible for HAMP if all of the following criteria are true Your mortgage is unpaid, equal to or less than ~$730,000 Your mortgage originated before 2009 Your property hasn’t been condemned The mortgage is on your primary residence and you’re at risk of immediate default on your mortgage Your experiencing financial hardship You can show that if you...
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