Larger Permanent Reductions Exhibit Stronger Performance
* Homeowners whose housing payment was cut by more than 50% through a HAMP permanent modification performed significantly better that those with a payment reductions of 20% or less. After one year, fewer that 12% of borrowers with a payment reduction greater that 50% were 60+ days delinquent.
* At 12 months, more that 84% of homeowners remain in HAMP permanent modifications. The remaining 16% have been disqualified from the program for missing three consecutive payments.
* HAMP permanent modifications continue to be sustained at better rates than industry modifications.
More than 1.5 million homeowners have entered trial modifications since program inception. These results are stated in HAMP Program Performance Report Through March 2011. Posted: www.makinghomeaffordable.gov/news/latest/Pages/Obama-Administration-Releases-April-Housing-Scorecard.aspx
You want to be a part of this program but are not sure if you qualify contact us now!
For a free loan modification consultation go to http://www.jdssaysyes.com
Friday, May 13, 2011
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