Sunday, 28 March 2010

Written by Deb Franklin

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What a mess.

When the HAMP or as it was known way back when, Making Homes Affordable Program, arrived all shiny, new and full of hope, you could almost hear the struggling homeowners of America breathe a collective sigh of relief.

It wasn't to last long, however.

It started out a simple enough program; 3 trial payments, submit a letter outlining your hardship along with financial documents proving a reduced income insufficient to meet ones current mortgage obligation, and voila, if you met the requirements set forth by the Obama Administration for the HAMP program, you would receive your permanent modification with your new reduced payment for the life of the loan, your house was saved, your children could remain in their school, the neighborhood would remain stable and all would be right with the world.