Approximately half a million homeowners who received a mortgage loan modification in 2010 through the government’s Home Affordable Modification Program, commonly known as HAMP, are due to reset in 2015.
Chief Financial Analyst Greg McBride, who said in 2009 that homeowners receiving a modification through HAMP were simply “kicking the can down the road” and now that we are in 2015, “we’re at the end of the road” because of all the HAMP mods due to reset this year. Furthermore, he said he thinks many homeowners will be “shocked” to find out that “permanent didn’t really mean permanent” and instead meant five years. So what does any of this mean, homeowners are going to see their mortgage payments go up this year, next year, and in many cases, the year after that.
While countless borrowers utilizing Mortgage Fraud Examiners services/methodologies have received multimillion dollar awards, free title to their property, and every conceivable settlement offer imaginable.