Verdict Still Out on Number of Loans Being Modified

Understanding Mortgages

The results of the Home  Affordable Modification Program (HAMP) which the administration has reported will help prevent foreclosure for  9 million people will be coming out in July 2009.

The HAMP program began in April and  HAMP data will be evaluated after a borrower completes a three-month loan modification trial period.  It will be interesting to see the number of people actually being helped under this program.

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