{"id":10673,"date":"2016-12-19T14:13:44","date_gmt":"2016-12-19T14:13:44","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=10673"},"modified":"2016-12-19T14:13:51","modified_gmt":"2016-12-19T14:13:51","slug":"hamp-replaced-flex-modification","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/hamp-replaced-flex-modification\/","title":{"rendered":"HAMP to Be Replaced with \u2018Flex Modification\u2019"},"content":{"rendered":"

HAMP to Be Replaced with \u2018Flex Modification\u2019<\/h2>\n

 <\/p>\n

\"HAMP<\/a>

HAMP to Be Replaced with \u2018Flex Modification\u2019<\/p><\/div>\n

Mortgage financing giants Freddie Mac and Fannie Mae announced a new foreclosure prevention program that will roll out next year to replace the Home Affordable Mortgage Program (HAMP), which expires at the end of this month.<\/p>\n

The new program will be called \u201cFlex Modification.\u201d It reportedly will provide a 20 percent reduction in mortgage payments for eligible borrowers. The majority of those homeowners who can qualify will be 60 days or more past due on their payments, although the GSEs note that some exceptions may be granted to those who are current on their mortgages or less than 60 days delinquent in certain circumstances.<\/p>\n

\u201cThe new Flex Modification announced by Fannie Mae and Freddie Mac was designed based on lessons learned from crisis-era modification programs to help borrowers stay in their homes and avoid foreclosure whenever possible\u201d says Sandra Thompson, the Federal Housing Finance Agency\u2019s deputy director. \u201cBy avoiding the high costs associated with foreclosures, the Flex Modification will result in significant savings for the GSEs and taxpayers.\u00a0And it will provide borrowers who face permanent hardships with a sustainable modification.”<\/p>\n

The new program will be implemented by Oct. 1, 2017.<\/p>\n

Source: \u201c\u2018Flex Modification\u2019 Designed as New HAMP,\u201d Mortgage News Daily (Dec. 15, 2016)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

HAMP to Be Replaced with \u2018Flex Modification\u2019   Mortgage financing giants Freddie Mac and Fannie Mae announced a new foreclosure prevention program that will roll out next year to replace the Home Affordable Mortgage Program (HAMP), which expires at the end of this month. The new program will be called \u201cFlex Modification.\u201d It reportedly will … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-10673","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHAMP to Be Replaced with \u2018Flex Modification\u2019 - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/hamp-replaced-flex-modification\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hamp-replaced-flex-modification\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hamp-replaced-flex-modification\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"HAMP to Be Replaced with \u2018Flex Modification\u2019\",\"datePublished\":\"2016-12-19T14:13:44+00:00\",\"dateModified\":\"2016-12-19T14:13:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hamp-replaced-flex-modification\\\/\"},\"wordCount\":227,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hamp-replaced-flex-modification\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2016\\\/12\\\/12192016.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hamp-replaced-flex-modification\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/hamp-replaced-flex-modification\\\/\",\"name\":\"HAMP to Be Replaced with \u2018Flex Modification\u2019 - 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