HAMP Mortgage Modification Program
If you are struggling to pay off your mortgage and are considering mortgage modification, you are not alone. Millions of homeowners are at risk of falling behind on their mortgage payments and are at risk of facing foreclosure. If you are concerned about not being able to pay your current mortgage, we can help. Our Maryland mortgage modification lawyers at Chaifetz & Coyle, P.C., are committed to helping you modify the terms of your loan to protect your home from foreclosure.
About HAMP
The federal Home Affordable Modification Program (HAMP) was created in 2009 as part of the Financial Stability Act. This program is designed to help homeowners negotiate with their lenders to modify the terms of their mortgages. To qualify for HAMP, you must be able to show the following:
- Your home value has declined so that its value is less than the mortgage balance
- Letter of Financial Hardship
- Monthly budget and record of income and expenses
- Your mortgage to debt income ratio
All of these can be important factors that influence the success of your mortgage modification. However, qualifying for the HAMP program can be complex as there are many important legal steps involved in the process. Consider consulting with an experienced Maryland mortgage modification attorney to discuss the terms of your mortgage and to determine which legal options are available to you.
At Chaifetz & Coyle, P.C., we are committed to representing those who are seeking to modify their mortgages to avoid foreclosure. We have experience helping homeowners successfully modify the terms of their loans by negotiating with lenders, and we are prepared to assist you.
Contact Us
Do not leave your family vulnerable to the risk of foreclosure. To discuss your legal rights and options under the HAMP program and other mortgage modification strategies, contact the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C., today at 443-546-4608.