Comments for Unofficial HAMP Loan Modification Calculator

17 Jul 2010 05:02 drpaulbrewer

Just released a new version of the calculator that "animates" the process of calculating the loan modifications instead of jumping straight to the answer. Click "Demo Site" under Links in the upper right to try it. Under the rules specified in Treasury directive 09-01, the target payment is calculated as 31% of income. First, the rate is reduced. Then, the loan is extended (up to 40 years). Then, a non-interest bearing balloon is added. (This set of rules always finds away to modify the loan, but that does not mean that the modification will be approved). Enjoy!

15 Jul 2010 15:04 drpaulbrewer

Click "Demo Site" under Links to use the calculator in your browser.

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