Making Kansas City Homes Affordable..... Will the Home Affordable Modification Program or as it is commonly known as the Obama HAMP program get extinguished months premature?

Making Kansas City Homes Affordable.....



Will the Home Affordable Modification Program or as it is commonly known as the Obama HAMP program get extinguished months premature?

Lets look at the facts and see what you will do?

The HAMP Program was projected to help 4 million home owners avoid foreclosure. As of December it has helped around 500,000 home owners.

Although the Treasury Department has set aside $75 Billion as incentive payments to mortgage servicers, less then $1.5 Billion has been disbursed.

The HAMP Program was created to eliminate steps and paperwork in the foreclosure process but in fact more steps and paperwork have been created.

The HAMP Program was created to ease the workload of banks and lenders where in fact most banks and lenders have claimed that they have had to hire additional staff.

And most importantly, the HAMP Program was created to prevent foreclosures by making it easier to negotiate a loan forbearance or modification. The reality is through claims by many banks is that many negotiated loan modifications end up in foreclosure anyways.

Banks claim that the HAMP Program only delays the inevitable foreclosure.


If the HAMP Program is extinguished, will foreclosures increase? Many experts believe that the processing of foreclosures will be faster.

When you’ve missed a few payments....worry and anxiety set in.  Should we talk?

RE/MAX sells more homes than any other real estate company.

For a reason...should we talk?

Let us know what you think or add to our blog by writing a comment. Do you have a real estate question for the Real Estate Wizards? Email us at RealEstateWizard@DowellTaggart.com

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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