The federal banking regulatory agencies encourage all federally regulated financial institutions that service or hold residential mortgage loans to participate in the “Making Home Affordable” loan modification program. Guidelines for the program were announced today by the Treasury Department. Click here to read the full Press Release
The Treasury Department previously has indicated that institutions receiving financial assistance in the future under the Financial Stability Plan established under the Troubled Assets Relief Program will be required to implement loan modification programs in accordance with the Treasury Department’s guidelines.
If you would like lower your monthly payments by doing a loan modification under the Making Home Affordable plan, which is called a HAMP (Home Affordable Modification Program) please discuss it with expert legal counsel, such as Ioannou & Ioannou, LLP.
Ioannou & Ioannou, LLP
11125 NW 124th Street
Medley, Florida 33178-3173
Toll Free: P. 866 910 7065
am@ioannoulaw.com
