HAMP is expiring but do not despair

Step Aside HAMP, There’s a New Kid in Town With the Home Affordable Modification Program (HAMP) set to expire in less than three weeks, Fannie Mae has designed a foreclosure prevention program, Flex Modification, to help America’s families by offering reductions to their monthly mortgage payments. According to the announcement Wednesday, from the GSE, this … Continue reading HAMP is expiring but do not despair

Many homeowners with loan mods face rate increases

Half of all owners with active Home Affordable Modification Program modifications reside in just four states: California, Florida, New York and Illinois. From LATimes.com 6/22/14 Whether HAMP participants realize it or not, mortgage rate reductions last for only five years. Some homeowners with HAMP loan modifications may see monthly payments rise by $1,724. If you … Continue reading Many homeowners with loan mods face rate increases