Home Affordable Mortgage Program (HAMP) – Postponing The Sale

September 24, 2009/in Foreclosure & Loan Mod Blog /by Scott Lanin

If your mortgage loan is scheduled for foreclosure soon, what should you do? Under HAMP, many servicers have made a commitment to postpone foreclosure sales on all mortgages that meet the minimum eligibility criteria for a Home Affordable Modification until those loans can be fully evaluated. If you are approaching a sale date and want to try to modify a New York loan, you may want to call our office for legal assistance in preparing and submitting a loan mod request and trying to obtain a postponement of the foreclosure sale. You may also want to review your other options such as Chapter 13 bankruptcy which can automatically stay (stop) the sale, even if the lender does not agree.

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Cases and disputes can vary in complexity. Some can be handled in a routine 20 minute phone consult. More complex matters will require time to review and analyze documents and legal issues. If your matter is more complex, we may offer you a paid one hour consultation or hourly services, depending on the time needed to properly evaluate your situation. We always require a signed retainer agreement before we begin to provide legal services. The agreement will detail the scope of services included as well as your rights as a new client.

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Home Affordable Mortgage Program (HAMP) – Postponing The Sale

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