Quick Facts About Obama's Loan Modification Procedures
Federal Loan Modification Program is a smart and innovative program initiated by Obama in order to bring the home mortgage industry back to track. Also known as the Home Affordable Modification Plan, or HAMP, Obama administration allocated $75 billion as stimulus money to help the home owners who belong to risk category. The homeowners who belong to risk category include those who have proven default on the home mortgage, and those who are on the brink of getting defaulters.
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