The foreclosure lawyers at the Law Offices of Gregory Krasovsky can provide legal support for Home Affordable Modification Program (HAMP) mortgage restructuring, and our attorneys can provide representation in filing lawsuits against banks and other lenders who attempt to circumvent the regulations prescribed by HAMP. A Home Affordable Modification law firm can help prevent unscrupulous foreclosure proceedings and even extract a settlement from the offending banking institutions. If you are considering applying for HAMP and you require a HAMP lawyer, contact our attorneys today to get the legal support you need to prevent banks from engaging in foreclosure proceedings.

The Home Affordable Modification Program (HAMP) is a Federal Government program meant to help homeowners with underwater mortgages restructure their mortgage payments with the help of their banks. By using HAMP, homeowners can lower their monthly mortgage payments to 31% of what they were originally. Such a modification is especially useful for long-term homeowners who have had a sudden change as a result of a lay-off or other kind of unemployment. Although many banks participate in HAMP, not every one does, so it is important to find out whether your lending institution participates in the program. Our lawyers try to make sure that all participating institutions do indeed help in mortgage restructuring. We will provide you with assistance if you have been denied mortgage modification.

Our consumer fraud attorneys can provide you with legal assistance in the following circumstances, all of which have been the targets of Home Affordable Modification Program litigation:

• A bank agrees to modify your mortgage, but then proceeds to renege on the agreement.
• A bank intentionally and illicitly delays the modification process in order to facillitate a foreclosure.
• A bank intentionally and illicitly 'misplaces' paperwork (unfortunately, this has happened to people).
• A bank denies modification even if all the criteria are adequately met.
• A bank demands payment and then proceeds to engage in foreclosure proceedings anyway.

The Home Affordable Modification Program was introduced in 2010 to stymie the rampant foreclosures by unscrupulous banks. It should also go without saying that many unscrupulous banks try to avoid the obligations of HAMP and go forth with foreclosures regardless of any paperwork filed. It is for this reason that it is crucial to have competent HAMP attorneys ready to go after miscreants who refuse to abide by legally binding obligation and basic moral duty.

Unfortunately, the original regulations dictating lender behavior in HAMP did not have sufficient teeth to prevent unscrupulous behavior by banks. Fortunately, over time, the rules became stricter and judges began to rule in favor of foreclosed homeowners.

For example, one woman tried to restructure her mortgage with Bank of America, but the bank claimed that it had lost her paperwork a number of times, and it proceeded to begin foreclosure proceedings. This sort of behavior runs in direct contradiction to both the spirit and letter of the HAMP regulations. Fortunately, judges ruled in favor of the wronged woman and against the mendacious practices of Bank of America.

So long as you fulfill the criteria of eligibility for HAMP, you should not be denied the opportunity to keep your home. The criteria are as follows (taken directly from the HAMP website):

• You occupy the house as your primary residence.

• You obtained your mortgage on or before January 1, 2009. • You have a mortgage payment that is more than 31 percent of your monthly gross (pre-tax) income.

• You owe up to $729,750 on your home.

• You have a financial hardship and are either delinquent or in danger of falling behind.

• You have sufficient, documented income to support the modified payment.
• You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or real estate transaction.

Our attorneys can help ensure that you get the refinancing that you need to stay financially afloat and keep your home.

If you are worried about receiving foreclosure notification because of your underwater mortgage, contact our attorneys today to see how we can help you prevent foreclosure by fully exploiting the possibilities of HAMP. If you have already applied for HAMP, but have been rejected by your mortgage institution, our attorneys can help resolve the matter through litigation.