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

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The Dodd Frank Act


The Dodd-Frank Act may be able to assist homeowners who have had, or are having issues with the transferring of their mortgage. The Act may be able to assist them in defending their home from being foreclosed on. The Mortgage Bankers Association held a conference in New York, and they concluded that it is extremely expensive for lenders to defend these cases. Therefore, this could possibly put a stop on foreclosures. It will be exceptionally hard for the mortgage servicers to prove who the original owner of the mortgage was.  The Dodd Frank Act is in support of the homeowner because it provides an "actual statutory basis" for the homeowner.