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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 118676
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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Should a company advise a person to not make a house payment

Customer Question

Should a company advise a person to not make a house payment fo3 months and use that money to pay for their HAMP modification?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Lenders typically advise customers that the only way to qualify for HAMP modification is to be delinquent in their loan payments. This is not a guarantee they will be given the modification though. It is not illegal for the company to advise the borrower of what they need to do to qualify for the HAMP though.