ADMINISTRATION RELEASES MARCH LOAN MODIFICATION REPORT
WASHINGTON - - The U.S. Department of the Treasury and the Department of Housing and Urban Development today released March data for the Administration’s Home Affordable Modification Program (HAMP). As of the end of the month, more than 1.4 million homeowners received offers for trial modifications, and more than 1.1 million borrowers were receiving a median savings of $500 each month. Permanent modifications have been granted to more than 230,000 homeowners, and an additional 108,000 permanent modifications have been approved by servicers and are pending only borrower acceptance. Homeowners’ lower monthly mortgage payments under HAMP represent a cumulative savings of more than $3 billion.
The March HAMP report can be found here:
http://www.makinghomeaffordable.gov/docs/Mar%20MHA%20Public%20041410%20TO%20CLEAR.PDF
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