To date, approximately 240,000 homeowners have gotten loan modifications through Obama’s Home Affordable Modification Program (HAMP). While this sounds impressive, this is actually terrible; originally President Obama was quoted saying he hoped that government initiative would help 8-9 million homeowners in need. Clearly we are missing the mark, however this time around there are at least incentives to lenders to help homeowners get a loan modification under Making Home Affordable.
Tag archives for HUD
Loan Modification News Consumer Economic Protection Act
by Justin Bartlett in July 23rd 2009Tuesday, North Carolina Attorney General Roy Cooper lobbied the state judiciary committee to consider the Consumer Economic Protection Act for homeowners in trouble, which would allow clerks of court to force lenders to take up to 60 days to work out a payment plan with homeowners before foreclosing.
Category: Government Tags: Consumer Economic Protection Act, HUD, Loan Modification, mortgage loan modification, NOD, Notice of Default, Obama, treasury
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