Home Affordable Modification Program: Overview
The Home Affordable Modification Program (HAMP) is designed to help financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term. The program provides clear and consistent loan modification guidelines that the entire mortgage industry can use. The Home Affordable Modification Program includes incentives for borrowers, servicers and investors.https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/mhahandbook_34.pdf
If you are hurting financially and are in danger of losing your home to foreclosure, you are not alone. Many people are getting the help they need through a loan modification program. These programs are designed to assist people in reducing the amount of their loans and putting together a plan that will make it easier to manage.
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