HAMP Denials and Complaints Continue to Mount

October 11, 2013

Important Information

Attorneys working with ClassAction.org are no longer reviewing claims for this case. The information here is for reference only. A list of open investigations can be viewed here.

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At A Glance

This Alert Affects
Consumers who attempted to receive a modification of their mortgages through the Home Affordable Modification Program (HAMP).
Damages
Reports have surfaced that certain banks may be stringing along borrowers with the promise of permanent loan modifications that they never intended to grant and have profited from struggling borrowers in doing so.
Company(ies)
Mortgage lenders, including Ocwen, GMAC, Ally Financial and Select Portfolio Servicing Inc. (SPS)
Additional Details
HAMP lowers borrowers' monthly payments to 31 percent of their gross monthly cross income to make their payments more affordable.
Date
Mortgage lenders, including Ocwen, GMAC, Ally Financial and Select Portfolio Servicing Inc. (SPS)