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HAMP is losing participants
By ft Editorial Staff • Jul 7th, 2010 • Category: real estate newsflashThe administration implemented the $75 billion Home Affordable Modification Program (HAMP) to lower a homeowner’s monthly mortgage payment by reducing their interest rates to as low as 2% for five years and extending the loan terms for up to 40 years. To sweeten the deal, the participating mortgage companies receive tax incentives. For lenders, participation [...]
