In case you are confused…
HARP stands for Housing Assistance and Recovery Program.
MHA stands for Making Home Affordable.
HAMP stands for Housing Affordable Modification Program.
All of these programs were designed to help you and your family in your foreclosure situation. Many of our clients have found that banks are luring you in to a foreclosure situation by telling you that you are in a loan modification trial payment program that is not posting any payments to your account. A “trial” loan modification payment program usually comes with a time period of three months or so, but our past clients tell us that the banks tell them to keep paying to make their loan modification case look as good as it can be. Several months down the line, the result is several months of lost money to a fake loan modification trial payment program that was never intended to help you keep your home. In fact, the bank will even tell you that they are looking for you to use 31% of your income to pay for your home. So, if 31% of your income does not meet a minimum number that the bank needs to be happy, then they will not accept your loan modification. They will sometimes come back with almost the same exact terms that you are currently dealing with and offer to put the past due debt on the back of the loan and add another 10 years to your loan.
So, how does the Home Assistance Recovery Program really help? Does it help you or does it help the banks fund ways of enticing you to get into deeper and deeper debt? We may never know the real answer, but if you are frustrated and through with working with the banks in these types of programs, call us to see how we can help you at Bankruptcy Law Professionals.
We strive for excellence in service. We have an amazingly untarnished record of clients in Riverside, San Bernardino and the rest of the Inland Empire who are extremely happy with our services.
Contact us at (855) 257-7671 to set up an appointment.