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Loan Modification

: Mortgage Lender Implode-o-Meter

HAMP Trial Cancelations Catching up to Permanent Modifications

By Implode-Explode Heavy Industries

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"The Making Home Affordable Program (HAMP) initiated 1.3m trials as of July 2010, but is having difficulty retaining program participants through the process of making their modifications permanent. According to the July Servicer Performance Report released by the US Department of Housing and Urban Development (HUD), 616,839 modifications have been canceled while 434,716 modifications have been made permanent throughout the program's lifetime."

Full post as published by Mortgage Lender Implode-o-Meter on August 23, 2010 (boomark / email).

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