Tag Archives: HAMP
Sun Setting On HAMP
The end of 2016 also means the end of the government’s Home Affordable Modification Program, an initiative that has helped many distressed homeowners, and in other situations, made already-stressful situations nearly unbearable. HAMP appeared in 2009, just as the foreclosure crisis reached a crescendo. At the crisis’ height, one in every 300 households received… Read More »
Bankruptcy And Mortgage Modifications
Illinois is second only to New Jersey in terms of underwater mortgages. When the loan balance exceeds the home’s value, refinancing is typically not an option. So, distressed homeowners in these circumstances must often turn to a lender-offered mortgage modification for relief. Despite the rosy success stories on bank websites, the mortgage modification saga… Read More »