As Moreno Valley loan modification attorneys, we've long believed that banks' bureaucracy is a large part of the problem with the Home Affordable Modification Program. HAMP is the federal government loan modification effort intended to encourage banks to grant loan workouts to homeowners who meet certain financial standards. It has been under fire for most of its existence, in part because of banks' long delays, miscommunications and other problems that have kept it from helping more than a fraction of those the government believes are eligible.

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Article Describes Bureaucracy at Heart of Problems With Residential Loan Modifications