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The short answer is because they are a servicer, they do not own your loan, they mearly collect the payment and any (late) fees. They make money by skimming off a piece of your payment from the producer, or owner of the loan. If you do not make your payment they make no money. It does not behove the servicer to participate in the HAMP program, because they do not get any benefit from reducing your payment, and if they did, all the government benefits go to the investor/owners of the loan first.

A good site I found which breaks down some testimony presented to the senate on the lack of participation in HAMP by servicers: http:/phhmortgage.wordpress.com

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Q: Why has PHH mortgage played with faithful longterm customers during a hardship not giving anyone answers to the new Hamp program I went online and found out many of there customers are treated badly?
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How can you write a hardship letter to your mortgage company to modify your mortgage payment?

I will forward you copies of hardship letter samples. I do this for a living and I have helped clients put their hardship into a letter format as long as they know and can tell me what their harship is. Glena


How do you write a hardship letter for mortgage approval?

A letter of hardship for loan modification is essentially your best prospect to give explanation to the lender, the conditions that led you to be in arrears on your mortgage. It is crucial to be precise, clear-cut, and truthful while writing the hardship letter. Sugar-coating your situation is not recommendable.


What happen to the second mortgage if not paid?

Sometimes the bank will send a letter of hardship. You indicate information about bills you pay, etc. They will readjust your mortgage but it is usually more than the original amount. They usually call it a request for hardship document. Sometimes the bank will send a letter of hardship. You indicate information about bills you pay, etc. They will readjust your mortgage but it is usually more than the original amount. They usually call it a request for hardship document.


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Related questions

How can you write a hardship letter to your mortgage company to modify your mortgage payment?

I will forward you copies of hardship letter samples. I do this for a living and I have helped clients put their hardship into a letter format as long as they know and can tell me what their harship is. Glena


How do you write a hardship letter for mortgage approval?

A letter of hardship for loan modification is essentially your best prospect to give explanation to the lender, the conditions that led you to be in arrears on your mortgage. It is crucial to be precise, clear-cut, and truthful while writing the hardship letter. Sugar-coating your situation is not recommendable.


What happen to the second mortgage if not paid?

Sometimes the bank will send a letter of hardship. You indicate information about bills you pay, etc. They will readjust your mortgage but it is usually more than the original amount. They usually call it a request for hardship document. Sometimes the bank will send a letter of hardship. You indicate information about bills you pay, etc. They will readjust your mortgage but it is usually more than the original amount. They usually call it a request for hardship document.


Where can you find sample hardship letters?

What do you mean by hardship letters?AnswerWriting hardship letters to a mortgage company. AnswerYou can find an example hardship letter at these web sites: http://www.foreclosurebeat.com/a_hardship_letter_020804.htmhttp://www.cclcnsw.org.au/DFT_Project_2002/module_03_Cant_Pay_-_Hardship/cw_hardship_var.HTMLhardship letterplease someone send me a sample of a hardship letter, my mortgage company is requesting one. im a getting behind with my monthly payments. thank-you caja99886@yahoo.com carlos Gomez


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Houston Mortgage is known as a leader in the Texas mortgage industry. It offers a variety of online aids and a free mortgage calculator to help customers find their best rates. Houston Mortgage also offers live personnel to assist customers through the mortgage process.


What services does PNC mortgage have for its customers?

PNC Mortgage is the mortgage services division of PNC Bank. They offer home mortgages, mortgage refinancing, and home equity loans,


How do you complete a hardship letter for your mortgage payment being late?

You first need to include your name and account number. You also should state why you are having a hardship and when you payments will begin again.


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Where can you find an example of a hardship letter for a mortgage when trying to purchase a home on a short sale?

I found both an instructional guide to writing a hardship letter, and a few different examples of such at the following address:http://www.quickrealestatesolutions.com/uploads/Help_us_help_you.pdfGood luck.


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