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Bookmark or Share- Home Affordable Modification Program: Meaning, Overview, FAQThe Home Affordable Modification Program (HAMP) was a loan modification program introduced by the federal government in 2009 to help struggling homeowners avoid foreclosure.
- Making Home Affordable - WikipediaThe 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. This is done by interest rate reduction, fixing the interest rate, principal reduction or forbearance, and term extension.
- Home Affordable Modification Program (HAMP)HAMP works by encouraging participating mortgage servicers to modify mortgages so struggling homeowners can have lower monthly payments and avoid foreclosure. It has specific eligibility requirements for homeowners and includes strict guidelines for servicers.
- What Is A HAMP Program? – Forbes AdvisorHAMP was a federal government program. It was launched to fulfill the requirements of the Emergency Economic Stabilization Act of 2008. That law directed the Department of Treasury to modify...
- HAMP - Mortgage Modification Program - ZillowHAMP: Home Loan Modification Program Information. Homeowners facing a major financial hardship may work with a lender to get a loan modification with HAMP to avoid foreclosure. Read on to learn how.
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