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

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HAMP Unsuccessful So Far


The Home Affordable Modification Program was not as successfully as the government intended it to be in assisting homeowners with loan modifications. The Us Treasury Department has promised that it is going to hold mortgage companies accountable.  There are some Senators who are trying to create a new agency that is in favor of the homeowner. It would be called The Homeowner Advocate Act of 2011, and it would be for "families who face foreclosure but believe their mortgage servicer's are breaking the rules". This bill has been proposed to the Banking committee.