Monday, February 13, 2012

What is a HAMP Loan Modification

If you are one out of the millions of homeowners trying to get your loan modified, chances are you might have heard the term HAMP loan modification in the news recently. Now a lot of us already know what it means to get your home loan modified but what exactly is this new term that people are talking about and more importantly, how does it help you?To begin with, HAMP stands for Home Affordable Modification Program. It is part of President Obama's ambitious mortgage stimulus package for

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