The HAMP Program

Couple New Home; Orange County Foreclosure Lawyer

To keep more Americans in their homes, the Home Affordable Modification Program (HAMP) established federal guidelines to modify qualifying mortgages. While the program may offer debt relief, the costs of a rejection can be high. Unforeseen fees and penalties may add up quickly while you wait for a decision.

Orange County Foreclosure Defense Attorneys

The HAMP Program can be a helpful tool or a dizzying nightmare. Oaktree Law can help determine if this type of loan modification is worth your while. If so, our expertise will give your application the best chance of approval.

Contact us or call 800-535-1627 if you have questions about the HAMP Program.

The Pitfalls of The HAMP Program

Los Angeles residents who try to navigate through this federal program without guidance can leave you worse off than when you started. The required trial modification can add principal, damage your credit and put you closer to foreclosure than default. It also could prevent you from seeking proven debt relief options such as foreclosure defense.

When considering the HAMP program in Los Angeles, investors must see that it’s more lucrative to modify your loan than to foreclose. They’ll assess your home’s value, your ability to afford new payments, price trends in your market, the cost of foreclosing and the cost of modifying your loan.

Though many banks have received funds from TARP as an incentive to work with homeowners, some are reluctant to negotiate. With our help your application will address all lender objections. A successful loan modification through HAMP can:

  • Reduce your debt to income ratio
  • Reduce your interest rate
  • Convert an ARM to a fixed rate mortgage
  • Forgive a portion of principle
  • Defer some principle amount without adding interest
  • Extend the maturity dates

Take Advantage of the HAMP Program with a Southern California Foreclosure Attorney

Contact us or call 800-535-1627 to learn about eligibility. If a loss of income has you considering the HAMP Program, our preparation is essential.