Foreclosure attorneys in Vermont are able to help you understand what your options are in the foreclosure process and inform you of the programs that are available for you to help you keep your home.
What is the Home Affordable Modification Program (HAMP)?
HAMP is a program that is designed to help homeowners who are at risk of foreclosure obtain reduced monthly payments that they can afford over a long period of time. If you are facing a financial hardship and have the documentation to prove it and are able to make monthly mortgage payments after a modification, you might be eligible for HAMP. The program can offer a few incentives which ultimately will help a homeowner keep their home.
Some things HAMP can do include:
- Modify mortgages so homeowners can have reduced monthly payments.
- The program encourages private lenders to modify mortgages at no expense to taxpayers.
- It can help families reduce their monthly payments by a median of more than $530 each month.
In many instances, the issue for individuals becomes the amount of the mortgage payment and not solely the payment itself. HAMP provides a way for individuals to lower their payments and keep their home. To learn more about this program and if it would be a right fit for you, speak with one of the foreclosure attorneys featured on our site. They can further explain the details of this program and can even help you obtain the evidence you need that can prove you qualify for it.
In the event you are dealing with a different issue involving foreclosure, our Vermont foreclosure attorneys are able to assist you. There are many aspects of the foreclosure process that might be easier to deal with if only you had the help you needed from a professional who has your best interest in mind. Call us up today and learn how we can help you find these professionals free of charge.
