Per the Treasury, November Home Affordable Modification Program (HAMP) loan modifications reached nearly 23,000 making the total active modifications to just over 922,000. Additionally almost 23,000 loans have been paid off.
Homeowners reduced their first-lien mortgage payments by a median of approximately $546 each month. Apparently the government program has save $24.2 B to date.
Home Affordable Modification Program
The governments Second Lien Modification Program (2MP) has helped more than 123,000 homeowners saving a medium of $153/month. Nearly 32,000 2MP modifications have extinguished the debt.
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