Newest Changes To HAMP; Without a Mandated Principle Reduction How Many Will It Help?
HAMP Loan mod program changes add short-sale incentives. [caption id="attachment_1805" align="aligncenter" width="300" caption="HAMP makes changes, But will they help?"][/caption] This just in: Government Guidelines for HAMP changes, HAFA Guidelines, HARP program rules, Second Lien help (2MP) Is this another big waste of time? Will this just prolong the problem? I've heard so much about the newest HAMP guideline changes and additions today; how will it help if many simply re-default and end up facing foreclosure anyway? I mean, it's great they are trying to help, give people a chance to find employment, get their income back, so they can continue to make payments, but without a long term principle reduction, what's the use? How many will simply decide to walk? And how do we know if the...
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