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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Do Loan Modifications Only Prolong The Inevitable?


Mortgage companies feel that offering customer's loan modifications only prolongs the inevitable, which is to be foreclosed on.  The reason for this is because the federal government is not giving enough incentive to the mortgage companies, so that they will modify more home loans .  Freddie Mac and Fannie Mae have considered offering more of an incentive to the mortgage companies so that they will approve more loan modifications.  However, to be able to change the incentive plan there has to be cooperation of both Federal Housing Finance Agency and HUD.