Home Affordability Modification Program

75% of HAMP Loan Modifications will Redefault

June 23rd, 2010

A new report by Fitch Ratings states that 75% of HAMP loan modifications will redefault in the future. The issue is that the HAMP (Home Affordability Modification Program) loan modifications do not address the other debt that the borrowers have, therefore still having issues, despite their mortgage amounts and payments being reduced. CNNMoney.com shared this [...]

HAFA Program to Help Distressed Homeowners Beginning April 5, 2010

March 29th, 2010

The HAFA program (Home Affordable Foreclosure Alternatives) will start helping more homeowners avoid foreclosure and complete a short sale instead to take the pressure of a home they can no longer afford. The HAFA program's new monetary incentives to banks who participate in the program beginning April 5, 2010 should help tremendously. According to CNNMoney.com [...]

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