Real estate investors under the weight of high interest mortgages and underwater properties may, for the first time, get relief through the government’s HAMP program.
Bloomberg is reporting that the government is working on revisions to HAMP to allow this to happen. The key revision deals with HAMP’s limitation to ‘owner-occupied real estate’. Going forward investors who function as landlords will be eligible for relief under HAMP. Stay tuned as more details are released and this program is rolled out.
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