This article was co-authored by Clinton M. Sandvick, JD, PhD. Clinton M. Sandvick worked as a civil litigator in California for over 7 years. He received his JD from the University of Wisconsin-Madison in 1998 and his PhD in American History from the University of Oregon in 2013.
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The Home Affordable Modification Program (HAMP) is a federal program designed to help homeowners in financial difficulty. The goal is to reduce your monthly mortgage payment to 31% of your pre-tax monthly income. Because HAMP is a voluntary program, you should check whether your mortgage company participates. You should also check whether you qualify. To apply, you must submit tax returns and an application. Do not delay: the program expires December 31, 2016. [1] X Research source