HAMP, the Treasury program that allows eligible homeowners to reduce their mortgage payment, will come to an end on December 30, 2016. The program, begun in 2009 as part of the "Making Home Affordable" initiative, was extended from its original deadline of December 30, 2015. A compilation of information provided by servicers participating in MHA under a Servicer Participation Agreement shows that, as of September, 2016, the program has processed over 9.3 million applications of which approximately 2.9 million were approved and 6.5 million denied.
To apply for HAMP, you must submit by December 30, 2016:
- A "Request for Mortgage Assistance" (RMA) form
- IRS Form 4506T, 4506T-EZ, or a signed copy of last year's tax return
- The "Dodd-Frank Certification" (which may be part of the RMA)
- Proof of income
Forms and information about the program are available at www.makinghomeaffordable.gov.