hamp

The government's program to prevent foreclosures is falling far short of its stated goals, a congressional watchdog reported. The Treasury's Home Affordable Modification Program (HAMP) is likely to fulfill less than a third of its goal of preventing 3 million foreclosures, the Congressional...

Back in December 2008, John H. was small-business owner with perfect credit and a house he could afford. But when his business started suffering, he appealed to Citi Residential Mortgage for a modification. Now, he faces foreclosure -- for the fourth time -- the day before Thanksgiving.

Many troubled homeowners in the federal foreclosure relief program end up losing their property anyway. Banks gain the most by delaying repossessing houses they can't sell, while collecting monthly payments from strapped borrowers.

The U.S. Treasury is hampered by HAMP. A report released today from the Congressional Oversight Panel says the Treasury is still struggling to get the $50 billion Home Affordable Modification Program, or HAMP, off the ground. So far, around 230,000 households have been given permanent...

Does it make any sense for a bank to take a $300,000 loss just to stand strong on a short sale? That's exactly what a Philadelphia mortgage banker told me happened with his house in the Old City of Philadelphia when he filed for bankruptcy in 2009. With the downturn his income went from $500K to...

If you're unemployed or your home is severely underwater, help is on the way. The Administration announced additional options for struggling homeowners to get help and explained the program during a press briefing Friday. You won't be able to call your lender right away, but you can call...

After Bank of America announced its new mortgage modification program that offered principal forgiveness for certain types of loans, I wondered if it was the only bank to do so. Of the four major loan servicers on the HAMP program -- Bank of America, JP Morgan Chase, Wells Fargo Bank and...

How well is the government's loan modification working? WalletPop's four-part special report continues with profiles of some of those trying to get help. To read the overview, click here. Kathy Partak went into loan modification armed with the powerful combination of knowledge and motivation. She...

How well is the government's loan modification working? Find out in this four-part WalletPop special report, which begins with this overview and continues with three profiles of those trying to get help, which can be found here, here and here. If the goal of the federal government's loan...