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Mortgage Modification Program Extended

Posted on 1/30/2012

The Obama Administration announced on Friday that it will extend the Home Affordable Modification Program (HAMP) for one year, through December 31, 2013. The Administration also plans to expand the program. HAMP will offer another evaluation opportunity with more flexible debt-to-income criteria to help borrowers with higher secondary-debt levels qualify for loan modifications, and will expand eligibility to cover properties that tenants currently occupy and vacant properties that borrower intend to rent.

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