The Home Affordable Modification Program (a.k.a. HAMP) may be doing some good for a handful of people. But, if there is something that everyone agrees with, it is that the program needs some changes.
Alys Cohen and Diane Thompson of the National Consumer Law Center released a list of recommendations on July 6th that recommends greater [...]
Posts Tagged ‘Loan Modification’
How Could HAMP be Better?
The MHA’s Second Lien Program: Medicine for Modification Nightmares
If you have been dreaming about reducing the interest on your second mortgage down to 1% and extending the term out as far as your first loan, you can make your dreams a reality by applying for a modification or refinance from the Obama Administration.
Incentives We Have: Motivation We NEED!
Yesterday the Obama Administration released the names of 6 mortgage companies participating in its Making Home Affordable. Today it was announced that the number of American households threatened with losing their homes grew 24%. While the Administration’s plan provides incentives to those involved in a refinance, modification, short sale or deed in lieu, it has to be clear to the American public that the plan is worth little absent a real motivating factor.