Friday, April 2, 2010
The U.S. government HAMP (Home Affordable Modification Program) is started to stop foreclosure benefits both house owners and servicers. Obama administration has announced additional $600 million to help house owners to stop foreclosure and make home affordable by house owners.
The incentives are provided for the banks to modify the loan. The government will provide incentive of $1,000 to the servicer for each modification. The loan servicers can also receive $1,000 per year the loan modification works. House owners can benefit by keeping their house to be qualified for a principal decline of $1,000 each year for five years.
Labels: Avoid Foreclosure, HAMP to stop foreclosure benefits both house owners and servicers, we buy houses
posted by Avoid foreclosure, We buy houses, Stop foreclosure
@ 3:36 AM
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