The home loan modification program, set up by the government, was developed to rescue home owners from foreclosure and slow the drop in home prices. The Making Home Affordable Program’s website has been updated in order to make it more user-friendly. There’s now a toll-free number on the home page and a banner that rotates to display a number of success stories. This program has proved to be a help for some homeowners.
But the government is still working out some problems that other homeowners have run into. Some servicers, like Wells Fargo, Bank of America, Citibank, and Chase are finding it more profitable to foreclose on property than to make permanent mortgage modifications. Some homeowners are having their applications for loan modifications rejected without being given any explanation why.Click below to read more on the story
Obama’s HAMP Program Helps Some Homeowners With Home Loan Modification Daily Planet Dispatch
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