Thank you for the additional information.
The first thing that you have to understand is that HAMP modifications are entirely voluntary by lenders. They have no legal obligation to grant the modification, but they are given financial incentives by the government to do so. If your daughter's lender participates, then there are various requirements:
(1) The mortgage
must have been originated before Jan. 1, 2009.
(2) The house must be an owner-occupied.
(3) The mortgage balance must be equal to or less than $729,750.
(4) There must be a hardship (e.g., difficulty paying because of lost income).
(5) The monthly mortgage payment must be more than 31% of your gross monthly income.
If those qualifications are met, and the lender participates in HAMP, then a modification must be given in which the interest rate is reduced such that the monthly mortgage payment is no more than 38% of their gross income. There will then be a trial period of 3 months, and if each payment is made, then the new rate will be fixed for at least 5 years.
If your daughter has missed payments, then she should contact her lender and ask for information about their modification programs. Even if she does not qualify for HAMP (which is a government program), the lender may have other modification programs that can help.
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