HAMP Program – Home Affordable Modification Program

The Obama Administration Federal Home Affordable Modification – HAMP Program and the Federal Home Affordable Refinancing – HARP Program were launched in March 2009 and continue to provide an opportunity for those homeowners who qualify. These two programs are designed to provide homeowners who face possible foreclosure or financial disaster an opportunity to retain ownership of their home by preventing foreclosure.

What Is The HAMP Program?
The HAMP Program is designed to help those homeowners who have suffered some type of financial hardship such as loss of a job or death of a spouse – loss of household income get their home mortgage modified without having to refinance.

HAMP Eligibility Requirements

You must be living in your property when you apply for the HAMP Program;

You have gotten your mortgage before January 1, 2009;

Your mortgage balance must be under $729,750 for a single family residence, $934,200 for a duplex, $1,129,250 for a tri-plex, and $1,403,400 for a 4 unit home;

Your mortgage payment (including principal, interest, taxes, insurance, home owners association dues) must exceed 31% (percent) of your gross monthly (pre-tax) income; and

you must not be able to afford your current mortgage payment due to some type of financial hardship that you can document.

How Do I Find Out If My Mortgage Is Guaranteed by Fannie Mae or Freddie Mac?

For Fannie Mae: 800-7FANNIE (8am to 8pm EST)


For Freddit Mac: 800-FREDDIE (8am to 8pm EST)