Participating In HAMP Cut Down On Principal Amount Owed For 77% Of Eligible Homeowners

Participating In HAMP Cut Down On Principal Amount Owed For 77% Of Eligible Homeowners

The latest numbers on the government-backed Home Affordable Modification Program are in, and there’s some good news in there for most of the homeowners who participated. About 77% of those who went through modification (and didn’t have a mortgage tied to Fannie Mae or Freddie Mac) in July enjoyed a nice little cut to the principal amount they owe. [More]