Many Florida homeowners experiencing financial difficulties are considering all possible options when it comes to avoiding foreclosure and keeping their homes. A loan modification is often a welcome remedy for families struggling to stay current with house payments and meet other obligations. Approximately 29,000 homeowners had their loans permanently modified in Jan. 2017.
About two thirds of the modifications came through propriety programs, according to a non-profit alliance of mortgage professionals. Around one third of them were done through the Home Affordable Modification Program, or HAMP. While HAMP ended at the end of 2016, applications received before Dec. 31 will still be reviewed.