The Home Affordable Modification Program (HAMP), also known as the Obama
Program, was established to help homeowners who are struggling with mortgage
loans. While the program was intended to help people avoid foreclosure
and get their debt problems under control, in many cases, it has had the
If you are struggling with mortgage debt and considering the HAMP program,
it is important to know the benefits and potential pitfalls it presents. At the
Sulaiman Law Group, LTD, our attorneys have extensive experience helping people throughout Chicago
and the surrounding areas resolve their debt problems. We can answer your
questions about the HAMP program and discuss other foreclosure defense
Contact us today online or by telephone at 312-313-1613 to speak with an experienced
Chicago foreclosure lawyer.
What's Wrong With the HAMP Program?
Originally, the HAMP program was designed and enacted to allow borrowers
the opportunity to restructure their loans in a manageable procedure.
Unfortunately, the problem with the program is that it provides little
incentive for lenders to participate. Furthermore, it does not have teeth
in forcing lenders to deal with honesty and fairness with homeowners.
Although the plan sets guidelines on how lenders are to handle
loan modifications, they are merely guidelines, not laws. In various cases, homeowners sought
relief through the HAMP program only to be pushed through a hopeless loan
modification process. Even worse, this can be harmful to people who are
already stressed with home loans as interest, late fees, and other expenses
that accumulate over a waiting period. Furthermore, it does not allow
for these people to seek other proven debt relief options such as
foreclosure defense and
The Chicago foreclosure defense lawyers at Sulaiman Law Group, LTD. can
help you. Together, we will help you explore a variety of options so that
you can choose the strategy that best fits your needs. Here at our firm,
we let you choose. We will stand by you and guide you through the process
and take care of any necessary legal details along the way.
Are you facing home foreclosure?
Contact us today online or by telephone at
312-313-1613 to speak with an experienced Chicago foreclosure defense attorney.