hamp: Something You May Not Know About Loan Modifications
- 05/24/10 10:09 AM
Recently, we have seen a dramatic increase by almost 30 in the number of homeowners’ mortgages that have been permanently modified. Almost 25% of the 1.2 million trial modifications that began over a year ago under the Treasury’s Home Affordable Modification Program (also known as HAMP) have now been permanently modified.
A problem many of these homeowners have been facing is the inability of the Loan Servicer to verify homeowners’ incomes. This is something many people do not understand about the loan modification process. You must have some sort of income before you qualify for a loan modification. Being … (1 comments)
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