HAMP is ending this year, as of December 31st, it will be history.

What won't be history, unfortunately, are the foreclosures that we've been trying to prevent since 2008.  Sure, the numbers of new foreclosure filings have fallen as compared with the numbers reported in 2009 or 2010, but that doesn't mean the foreclosure crisis is over... Looking at RealtyTrac's foreclosure chart for 2016, it appears that we still had almost a million foreclosures this past year. Yeah, it's not two million or four million, but it's still a million, which works out to 2740 a day, 365 days a year... and seems like too many at least to me.


The good news, however, is that the end of HAMP does not necessarily mean the end of loan modifications. Last week, Fannie Mae and Freddie Mac announced a HAMP replacement called the "Flex Modification" program, which Fannie says, "leverages components" of HAMP with those of Fannie's "Streamlined Modifications."

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