Home Affordable Modification Program
Basic requirements * for the "Home Affordable Modification Program" (HAMP)
- You own and occupy your home as your primary residence.
- You are either current, at risk of imminent default, or behind in your mortgage payments, or are in foreclosure or bankruptcy.
- The unpaid principal balance of the first mortgage on your primary residence is $729,750 or less (loan limits are higher on owner-occupied multi-unit properties).
- You have verifiable source(s) of income to put towards a mortgage payment each month, even if that income has recently been reduced.
- You can provide copies of your most recent tax returns and will sign an affidavit of financial hardship.
- You have not previously modified your mortgage under the MHA program.
- The closing date on your loan must have been on or before January 1, 2009
- For more information, visit www.makinghomeaffordable.gov.