HAMP REACHING UNDERWATER AND MIDDLE CLASS BORROWERS: REPORT

Treasury and HUD released a new report Monday on the state of the housing market, including new metrics that provide a more granular view of the Home Affordable Modification Program (HAMP). Most program participants are moderate and middle income distressed homeowners, with a median credit score of 570, who are underwater on their mortgages. Borrowers in active permanent modifications have seen their monthly mortgage payment cut by a median of 40 percent.


http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&id=f23bb29437&e=31685a496f