Personal Finance Advice and Commentary

Wednesday, February 13, 2013 2:17 pm
By Polyana da Costa · Bankrate.com

Only a fraction of the loan modifications completed in 2012 were through the government’s HAMP

Tuesday, November 27, 2012 11:45 am
By Polyana da Costa · Bankrate.com

FHA offers new options for borrowers struggling to pay their mortgages.

Monday, March 12, 2012 9:15 am
By Jay MacDonald · Bankrate.com

Statistically, America may be digging out of the foreclosure quagmire caused by subprime mayhem and the subsequent collapse of the housing bubble …

Friday, January 27, 2012 4:15 pm
By Holden Lewis · Bankrate.com

You’ll have more time to seek a mortgage modification under the Home Affordable Modification Program, or HAMP. And maybe your lender will be more likely to write down principal. HAMP’s expiration date has been extended one year, to the last day of 2013, the Treasury Department announced this afternoon. Treasury announced other changes, too: •

Tags: HAMP, Mortgages
Thursday, June 09, 2011 2:49 pm
By Polyana da Costa · Bankrate.com

If you’re one of the many homeowners who have gone through the frustrating experience of trying to work with your lender to get a loan modification, this may serve as a bit of consolation. The U.S. Treasury says it is withholding incentive payments owed to the three of largest servicers participating in the Home Affordable

Tags: HAMP, Mortgages
Tuesday, May 24, 2011 10:48 am
By Holden Lewis · Bankrate.com

Why were you turned down for a HAMP modification? That’s the question that the U.S. Treasury aims to answer with an online calculator that was posted yesterday. It also can help answer the question: Will I be approved for a HAMP mod? The calculator can be found at the dreadful URL CheckMyNPV.com. For search engine

Thursday, February 10, 2011 12:46 pm
By Marcie Geffner · Bankrate.com

The debate over the success or failure of the federal government’s Home Affordable Mortgage Program, or HAMP, entered a new phase two weeks ago, when Rep. Jim Jordan, R-Ohio, introduced a bill that would all but eliminate the entire program. The bill, H.R. 430, HAMP Repeal and Deficit Reduction Act of 2011, would end any

Monday, January 10, 2011 5:17 pm
By Marcie Geffner · Bankrate.com

Borrowers who can’t make their mortgage payments may wonder why lenders are loathe to accept less in lieu of foreclosure. The reasons can be found in a recent Congressional oversight panel report about the Treasury’s Home Affordable Modification Program, or HAMP. The report focuses on HAMP, but much of the information is equally applicable to non-HAMP

Thursday, December 16, 2010 3:12 pm
By Marcie Geffner · Bankrate.com

“Failure” may be too harsh a word to describe the shortcomings of the U.S. Treasury’s Home Affordable Modification Program, but HAMP hasn’t exactly been an unqualified success either, judging by the Executive Summary of a 192-page report issued Dec. 14 by a Congressional oversight panel. Here are three snippets, quoting directly from the report: •