trial period plan (TPP) | firsttuesday Journal

Case in point: Is a HAMP servicer required to offer a permanent loan modification to a homeowner who successfully completes a trial period plan?

by Nicole Jessen | Jan 24, 2014 | Laws and Regulations, Real Estate, Recent Case Decisions | 5

Recent cases have closed loopholes enabling servicers to back out of providing permanent modifications to qualified homeowners.

May a lender deny a permanent HAMP modification when the lender fails to meet the conditions of the trial period plan?

by Nicole Jessen | Nov 5, 2013 | Real Estate, Recent Case Decisions | 0

Facts: A distressed borrower applied for a loan modification under the Home Affordable...

Does HAMP obligate a lender to permanently modify a loan if the borrower complies with the trial period plan?

by Nicole Jessen | Oct 28, 2013 | Real Estate, Recent Case Decisions | 0

Facts: A distressed borrower applied for a loan modification under the Home Affordable...

Is a lender required to offer a permanent loan modification to a HAMP borrower who successfully completes a trial period plan?

by Nicole Jessen | Oct 23, 2013 | Real Estate, Recent Case Decisions | 0

Facts: A distressed borrower applied for a loan modification under the Home Affordable Modification Program (HAMP). The lender prepared a trial period plan (TPP) stating the borrower will receive a permanent modification if they make trial modification payments and submit qualifying documents. The borrower successfully made all TPP payments and submitted the required documents but the lender denied the borrower a permanent loan modification and the home was later sold at a trustee’s sale.