Prevent Foreclosure Advice: Obama to Stop Banks from Foreclosing on Homeowners?
According to the BusinessWeek.com article, Obama May Prohibit Home-Loan Foreclosures Without HAMP Review, the Obama consideration has put forth a proposal to stop lenders from foreclosing on homeowners — at least until they have been screened and rejected by the government’s HAMP program.
The article states:
The proposal, reviewed by lenders last week on a White House conference call, “prohibits referral to foreclosure until borrower is evaluated and found ineligible for HAMP or reasonable contact efforts have failed . . .
Prevent Foreclosure: What is HAMP?
HAMP is the administration’s Home Affordable Modification Program. The program is available for home loans that were taken out prior to January 1, 2009. It will expire on December 31, 2012.
Find out if you are eligible for a home loan modification or refinancing via HAMP.
Make Money in Home Foreclosures
Learn how to register with your local housing authority to get foreclosure cleaning jobs (and other RE services related work, eg, painting work, plumbing jobs, general contracting work, lawn maintenance contracts, etc.).
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Copyright © 2010 Yuwanda Black for Foreclosure Business News. Article may not be reprinted or reproduced in any manner without the express, written consent of the author.