HAMP  Home Affordable Modification Program

What is required from the lender and the borrower?

Temporary Hardship

•   Forbearance
•   Repayment Plan
•   Payment Reduction Plan

Long-Term Hardship

•   Payment Reduction Plan
•   Other Forbearance -  Modification, Foreclosure, Deed In Lieu, Deed In Lease

Descriptions, Terms and Conditions and Eligibility Requirements

Hardship Affidavit

Net present Value verses Broker's Price Opinion

Verifying Borrowers Income

Steps In a Modification

Verifying Monthly Expenses

Trial Payment Period

Borrowers Notices