HAMP

The Treasury Department released April data for the administration’s Home Affordable Modification Program (HAMP) Monday, showing that permanent modifications have been initiated for 299,092 struggling homeowners. That’s an increase of 68,000 or almost 13 percent over March.


Of the nearly 300,000 permanent loan restructurings granted, 3,744 have been cancelled. Eighty-one of those cancellations occurred because the borrower paid off the loan. The remaining are the result of re-defaults.