Q&A: Home Affordable Modification Program (HAMP).?

Posted on Sep 19, 2012 in Unique Loan Programs

Question by Peter C: Home Affordable Modification Program (HAMP).?
I am considering refinancing through the HAMP.
http://www.makinghomeaffordable.gov/

I am looking for downsides. For example will I be locked into staying in the home for some time period? Will there be any tax impact like having to pay income tax on part of the benefit?
Any other downsides not in the FAQ

Thanks

Pete

Best answer:

Answer by v b
http://www.irs.gov/irb/2009-28_IRB/ar06.html

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