Home Affordable Modification Program
Home Affordable Modification Program
Obama’s administration’s Home Affordable Modification Program (HAMP). Under the HAMP, borrowers and lenders work out an agreement to reduce the monthly payment on the property for a trial period of three months.
But even though more than 728,000 homeowners have qualified for HAMP nationally, just slightly more than 30,000 of these homeowners have successfully adjusted their loans.
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