Foreclosure Relief Services Blog

R.I.P. HAMP: What does this mean for homeowners in distress?

Jan 30, 2017 11:44:11 AM / by Greg Tidmore posted in Loan Modifications, HAMP

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The Home Affordable Modification Program (HAMP) was a government-backed program born in 2009 to provide relief to borrowers behind on their mortgages. The program provided structure and incentives to mortgage servicers to encourage them to lower monthly payments for borrowers in an effort to keep more of them in their homes. With fewer borrowers in default, and a shift in the political powers in charge in Washington, the program died December 31, 2016  with no plans to resurrect it.

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