Foreclosure modification process abuses continue
By Neil Crane of The Law Offices of Neil Crane LLC posted in Mortgage Modification on Friday, November 20, 2015.
The disastrous flaws and abysmal results of the Home Afford Modification Program, or "HAMP", have been well-known to millions of homeowners attempting to navigate this government-sponsored bank-run minefield called the modification process. The full facts on the extent of the failure have been clearly documented in the Special Inspector General's July 2015 Report on the massive HAMP failure:
- Over 70% of all applicants have been denied modification
- The Treasury Department has not properly monitored or ensured that HAMP servicers are complying with HAMP rules
- More than 4 Million HAMP applications have been denied
- Even approved modifications have failed at alarming rates, and we have the vacant homes and disastrous "For Sale By Everyone" neighborhoods to prove it.
- 5.7 Million applications;
- 1.7 Million offered HAMP;
- 1.2 obtained permanent HAMP;
- Only 890,000 still remain active in HAMP.
HAMP run by the banks and the complicit government officials at the Treasury has been a predictable and widespread failure for homeowners.
Save yourself. Get professional help.
To learn more about getting the help you need to navigate the foreclosure modification process, call the experienced foreclosure defense attorneys at the Law Offices of Neil Crane. You can arrange for a free consultation by calling 203-230-2233 or toll free at 1-888-249-3027.