More homeowners get help outside of federal program, as reported by USA Today, despite the attention given to the federal government’s $50 billion Home Affordable Modification Program (HAMP), a program to lower monthly mortgage payments for five years, the majority of financially distressed homeowners are getting alternative modifications through their lenders without any government involvement. Since its start in spring 2009, HAMP has produced only 389,198 permanent modifications through June. Recent reports by the government and private analysts show the modifications that servicers make on their own are growing compared with a year ago, and according to Hope Now, a consortium of counseling agencies, servicers and investors, more than 800,000 alternative modifications have been made so far in 2010 with borrowers.
http://www.usatoday.com/money/economy/housing/2010-07-23-mortgages23_CV_N.htm

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