Home Affordable Modification Program Guidelines
March 4, 2009 Obama - President's Program

March 4, 2009 - President Obama: Home Affordable Program

Program Summary

Please Note that NOT every homeowner qualifies for this program

With the economy being in the state that it is, a lot of people are losing their homes. The Obama’s administration enacted a program called the "Home Affordable Modification Program (HAMP)" which aims at trying to assist homeowners amidst the current housing crisis by lowering monthly mortgage payments and / or to avoid foreclosure and remain in their homes. While this program will help homeowners particularly those who are making a good-faith effort to make their mortgage payments, there are some restrictions as to who will qualify for this program.

To modify your loan through the Home Affordable Modification Program,

  • Your loan has to be owned by a bank or investor who took TARP (Troubled Assets Relief Program) money.
  • The property must be your primary residence.
  • In addition to this the amount that you owe on your first mortgage must be less than or equal to $729,750.
  • This program assists only mortgages that originated prior to January 1, 2009 and can identify a financial hardship.

What this means is that this program is only available to those who qualify, so it is not for everyone. Even if you don’t qualify for a loan Modification under this program, you can still pursue a traditional loan modification.

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You DO NOT have to be delinquent to qualify for a Loan Modification. Please be wary of Scam Artists.

For more information please do not hesitate to contact us at toll free (877) 778-2308

See an example letter of the HOME AFFORDABLE MODIFICATION PROGRAM LOAN WORKOUT PLAN

Download the Home Affordable Modification Program Hardship Affidavit

OR CLICK HERE FOR YOUR FREE ANALYSIS

This kit includes every tool you will need to get your loan modified.

New! » Take a look at the "Table of Contents".

See Section 9 added June 30, 2009