HAMP

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January 1, 1 5 min read Definitions

HAMP: Home Affordable Modification Program

HAMP Home Affordable Modification Program Mortgage Modification Foreclosure Prevention Troubled Homeowners Government Programs Financial Relief

The Home Affordable Modification Program (HAMP) is a U.S. government initiative introduced in 2009 under the Making Home Affordable (MHA) program, designed to help financially struggling homeowners avoid foreclosure by modifying their mortgage loans to a more affordable level.

January 1, 1 6 min read Definitions

Home Affordable Modification Program (HAMP)

HAMP Mortgage Modification Homeowners Affordability Stability Plan Financial Stability Mortgage Relief Treasury Department HUD

The Home Affordable Modification Program (HAMP) is a U.S. government program designed to help homeowners reduce their monthly mortgage payments to make them more affordable, aiming to cap mortgage payments at 31% of a borrower’s verified monthly gross pretax income.