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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 Update


Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP) gave congress a report detailing how many loan modifications through HAMP have been completed by all the major banks. Bank of America showed that they had completed 72,323 permanent loan modifications up until June. From November 2010 to December 2010 BOA had only completed 6,484 permanent loan modifications.  Wells Fargo had completed 70,135 permanent loan modifications that are currently active. Citi Group reported a total of 42,746 permanent loan modifications that are active and JP Morgan had a total of 66,441 permanent loan modifications.