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(Internal Revenue Service)   1099-C: IRS Announces Guidance on the Principal Reduction Alternative Offered in the Home Affordable Modification Program (HAMP). I Like Hats   (irs.gov) divider line 15
    More: Amusing, HAMP, debt restructuring, incentive payments, repossessions, loan servicer, mortgage loans  
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897 clicks; posted to Politics » on 06 Mar 2013 at 9:37 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-06 09:26:03 AM
images2.wikia.nocookie.net
 
2013-03-06 09:39:58 AM
Let me guess, this isn't for people who pay their mortgage like they are supposed to.
 
2013-03-06 09:40:37 AM
Uh oh. Where's Rick Santelli to scold us all for even considering rewarding bad behavior by bad actors in the housing market?
 
2013-03-06 09:40:59 AM
encrypted-tbn2.gstatic.com
I love HAMP.
 
2013-03-06 09:47:31 AM
I like big hats and I cannot lie.
 
2013-03-06 09:48:45 AM

Citrate1007: Let me guess, this isn't for people who pay their mortgage like they are supposed to.


BZZZT!
 
2013-03-06 09:49:30 AM

Dr Dreidel: Uh oh. Where's Rick Santelli to scold us all for even considering rewarding bad behavior by bad actors in the housing market?


That guy is a friggin' loon.
 
2013-03-06 10:02:17 AM
Pricipal . Caught sayof school that has stoped Handstandsing " See, told ya so" Is He dead or not. CNN Says yes. St. Pete Times Looking for chads -OR- "hello, I am write single to salute and wait for answer again"
 
2013-03-06 10:16:49 AM
This is interesting. It's not a refi, it's paying down the principal, so the home owners will actually have more equity (at least if I am reading it right). Best part? It helps homeowners whoa re dutifully making payments.
 
2013-03-06 10:43:00 AM
Don't harsh on hamp bro. Its, like, very useful and stuff. You can, use it for, like, food and oil and other things. Its natural, like from mother earth, and shouldn't be taxed at all, man.
 
2013-03-06 10:46:09 AM

DeaH: Best part?


Forever.
 
2013-03-06 11:06:33 AM

Wyalt Derp: I like big hats and I cannot lie.


www.digitallizardproductions.com

"We got some hats now!"
 
2013-03-06 07:27:49 PM

Citrate1007: Let me guess, this isn't for people who pay their mortgage like they are supposed to.


For the most part, you are correct.  It is easier (but not required) to get a modification if you are >90 days late.  Its intent was/is for homeowners who have come upon a long term hardship such as loss of income, business failure, death.  The program use to be for primary residences only, but since nobody was using it, or falling into the government model, it expanded to include rental properties, duplexes and triplexes.
HAMP is also just one of 3 major governmental programs that I am aware of - there is also Home Affordable Refinance Program (HARP) and Home Affordable Foreclosure Alternatives (HAFA)
 
2013-03-07 06:19:40 AM

DeaH: This is interesting. It's not a refi, it's paying down the principal, so the home owners will actually have more equity (at least if I am reading it right). Best part? It helps homeowners whoa re dutifully making payments.


^this
/best part is not having to move
 
2013-03-07 08:39:01 AM

DeaH: This is interesting. It's not a refi, it's paying down the principal, so the home owners will actually have more equity (at least if I am reading it right). Best part? It helps homeowners whoa re dutifully making payments.


The program won't give equity - or enough equity - to be able to sell the house for a profit.  The best I have seen is bringing a loan to value of 90%
 
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