Sentence examples for modifying mortgages for from inspiring English sources

The federal government is supposed to be helping distressed homeowners modify their mortgages through the Home Affordable Modification Program, or HAMP, which launched early in 2009 with the goal of modifying mortgages for 3 to 4 million homeowners.

"At this early date, HAMP has already been more successful than any previous similar program in modifying mortgages for at-risk borrowers to sustainably affordable levels, and helping to avoid preventable foreclosures," said the Treasury Department's Michael Barr in prepared remarks before the House Financial Services Subcommittee on Housing and Community Opportunity.

"Modifying mortgages for homeowners in severe distress is critical to the ongoing economic recovery and is encouraged by the government at all levels," he said.

Financial institutions that are getting government bailout funds have been told to put off evictions and modify mortgages for distressed homeowners.

Rather than relying solely on the banks to do what is right and needed, he supports legislation that would allow bankruptcy judges to modify mortgages for bankrupt borrowers.

The idea was that the Treasury Department would provide incentives to mortgage servicers and investors to modify mortgages for struggling homeowners, rather than foreclose on them.

Ms. Schwartz noted that the Treasury Department was currently adjusting the formulas for determining how lenders can modify mortgages for borrowers at imminent risk of default.

He voted against the Democrats in his first two big votes since the switch, opposing the Democratic budget and helping defeat a measure to allow bankruptcy judges to modify mortgages for troubled homeowners.

Treasury has been ready to use up to $50 billion to help modify mortgages for people facing foreclosure, but its initiatives have been such a failure that little has been spent.

A few weeks ago, he caught the attention of the committee chairman, Barney Frank, when The New York Times reported that he had sent letters to servicers of mortgages contained in mortgage-backed securities, threatening to sue if they dared to modify mortgages for struggling homeowners.

FOES of nationalisation, take note the government is likely to tend to banks under its control with a heavy hand:Financial institutions that are getting government bailout funds have been told to put off evictions and modify mortgages for distressed homeowners.