[Lhuynh]

Ask yourself whats more important credit score or keep your house?..HAMP is Home Affordable Mortgage Program which is the bill pass by the President, on March 4th and you have to be under an FHA loan which is a Fannie Mae or Freddie Mac, because over 70% of homeowners I believe are under those two investors. If you are with those two you can get your new payments as low as 31% or 38%.

I'm not too sure about MHA I think its Making Home Affordable and i guess those are just private investors modification? not too sure.

Regarding after what they do after the 5 years, on the 6th year they can start raising the interest rate on you. Its like 4.75% for 5 years, 6th year it goes up, than 7th year goes up, depending on how GOOD you negotiated. You can negotiate a 5 year like lets say 3% than the 6th year it goes up but than after like the 7th or whatever there can be a CAP which mean it'll stop like at whatever the APR is during the time you finish your mod I believe so lets say 5.25%.

P.s you cannot choose to go with HAMP it just depend on your investor. INVESTOR is not your LENDER. You can always call your lender and ask who is the investor they HAVE to tell you. They call it HAM Program (HAMP) anyways if you qualify for a HAM program you can go as low as 2%.

Hope that help, correct me If I'm wrong