HAMP modifications working in 80% of cases

image Four out of five homeowners who had their mortgages modified under the Home Affordable Modification Program have kept their mortgages current, according to a Treasury Department report. HAMP is part of the Obama Administration’s Making Home Affordable initiative.

In fact, the report found that mortgages modified through HAMP “have generally performed better than other modifications implemented during the same periods.”

For example, of HAMP-modified mortgages from early 2010, 81.6% are still performing, compared to only 65.8% of modifications made privately.

Click here for the full report (big ol’ PDF).

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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