Effective April 1, 2015, the U.S. Department of the Treasury is enhancing the Home Affordable Modification Program (HAMP) "pay for performance" incentive, giving eligible borrowers an opportunity to earn a one-time principal balance reduction payment of $5,000. The enhanced "pay for performance" incentive is available to borrowers with a HAMP Tier 1 or Tier 2 loan modification in good standing.
The U.S. Department of the Treasury has announced that it will increase the amount of relocation assistance offered through the Home Affordable Foreclosure Alternatives (HAFA) program from $3,000 to $10,000.
MHA has released changes to the Home Affordable Modification Program (HAMP) to help even more homeowners who are seeking loan modifications and other options possible for mortgage assistance.
Learn more about the new updates that have been made to the Home Affordable Foreclosure Alternative (HAFA) program.
Learn about how changes to MHA’s Home Affordable Modification Program (HAMP) will affect borrowers with investment properties or those seeking multiple modifications.