Up to one million Home Affordable Modification Program (HAMP) mortgages may be eligible for help through 4 new programs recently announced. Mortgage holders with a good record of payment for 5 years may be eligible to receive assistance to help pay down principle. Other borrowers will have an opportunity to re-amortize to further reduce monthly payments. These changes come before some features of the program are slated for upward adjustments. Check out more info on the issue here, with additional links to check out.
