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Re-Defaults Expected to be Lower on HAMP Mods

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This is a discussion on Re-Defaults Expected to be Lower on HAMP Mods within the Loan Modification forums, part of the Foreclosure Forum category; Re-Defaults Expected to be Lower on HAMP Mods Loans restructured under the Home Affordable Modification Program should re-default at a ...

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11-07-2009, 12:05 AM	#1 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,143 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re-Defaults Expected to be Lower on HAMP Mods Re-Defaults Expected to be Lower on HAMP Mods Loans restructured under the Home Affordable Modification Program should re-default at a lower rate than non-HAMP mods, according to analysts at Barclays Capital. HAMP has encouraged servicers to significantly decrease borrowers’ monthly payments, which could limit re-defaults. Most pre-HAMP mods reduced borrowers’ monthly payments by an average of 20 percent to 25 percent, according to Barclays. - -

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