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HAMP is Home Affordable Modification Program which was started in 2009. It's for people who have more than 31% of their gross income devoted to paying their mortgage. Home owner may be eligible to receive a discounted interest rate, mortgage principal or payments.

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12y ago

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Home Affordable Modification Program: OverviewThe Home Affordable Modification Program (HAMP) is designed to help financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term. The program provides clear and consistent loan modification guidelines that the entire mortgage industry can use. The Home Affordable Modification Program includes incentives for borrowers, servicers and investors. RestReport.com can help you show proof to your bank that you are eligible for HAMP.


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