Dieppa Law BlogObama Plan
End of The Obama Plan (HAMP Program)?
Housing wire reported today that republican senators were submitting a bill to end the HAMP program. While estimates of the number of mortgages modified to date are less than predicted, in my experience, the HAMP is the best chance of keeping a home for most borrowers. In combination with a court-ordered or pre-foreclosure mediation, the [...]
Impact of The Obama Plan on Bankruptcy
For those of you contemplating bankruptcy and modification of your loan through the “Obama Plan”, the bankruptcy court has specific rules regarding the combination of these two efforts. If you stay in your home during bankruptcy, the trustee will fight any effort to get Florida’s “wild card” exemption on your schedules. This exemption protects $4,000 [...]