What Is HAMP Loan Modification: Can It Stop Foreclosure
When the HAMP (home affordable modification program) plan was first developed in 2008, its goal was to help struggling homeowners come up with a way to lower their mortgage payments through loan modification. So what is HAMP modification? It is a program that makes changes to, or modifies, the original mortgage loan. There are many different kinds of HAMP plans for people from all walks of life, and because of HAMP, many of them have been able to keep their...
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