Hud Loan Mortgage

Hud Loan Mortgage

Hud Loan Mortgage

Hud Loan Mortgage

By: Admin | Date: November 12, 2011 | Categories:

Mortgage complaints are plentiful for homeowners that qualify for the Home Affordable Modification Program or HAMP. Once the mortgage holder qualifies for the program, there’s suppose to be a three month probation or trial period where the mortgage holder is to make each monthly payment on time. Under HAMP, once the probation period ends, the homeowner is supposed to receive a permanent mortgage modification agreement.

How is the Home Affordable Modification Program Working?

Nearly 10 months after President Obama’s $75 billion Make Home Affordable Program started in March 2009, only 66,465 homeowners have received a finalized permanent mortgage modification. According to the U.S. Department of Treasury, that’s 66,465 out 1.16 million trial modification mortgages or 5.7%. According to the same report, the goal through 2012 is to offer between 3 and 4 million mortgage modifications through HAMP.


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