John L. McClain and Associates
Attorneys at Law

Serving Homeowners in Bucks, Chester, Delaware,
Montgomery and Philadelphia Counties in Pennsylvania

1-800-McClain (622-5246) 

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Mortgage Modification for Bankruptcy Filers

Mortgage Modification

Frequently Asked Questions for Bankruptcy Filers

  1. What is the Making Home Affordable Program, and what is HAMP?

The Making Home Affordable Program is a critical part of the government’s effort to stabilize the housing market and help struggling homeowners get relief and avoid foreclosure. HAMP helps homeowners who are struggling to keep their loans current or who are already behind on their mortgage payments.

  1. Can I be considered for a HAMP modification if I am in bankruptcy?

Yes, if you are in an active (open) chapter 7 or chapter 13 bankruptcy case, you must be considered

for a HAMP modification if you, your attorney, or the bankruptcy trustee submits a request to the


  1. How much will a HAMP modification cost me?

If you qualify for HAMP, you will never be required to pay a modification fee or past-due late fees. If

there are costs associated with the modification, such as payment of back taxes, your mortgage

servicer will give you the option of adding them to the amount you owe on your mortgage or paying

some or all of the expenses in advance.

  1. How will the HAMP modification affect my loan?

Your mortgage servicer may offer various options to you, including:

Reducing your interest rate to as low as 2 percent.

Extending the term of your loan up to 40 years.

Deferring a portion of the principal payment to a balloon payment at the end of the loan term.

Forgiving a portion of the principal.

  1. Am I eligible for HAMP if I have received a chapter 7 bankruptcy discharge?

Yes, even if you have received a chapter 7 bankruptcy discharge, you are eligible for HAMP. 

Law office of John L. McClain and Associates


Call 215-893-9357 or 1-800-McClain (1-800-622-5246)

OFFICES LOCATED IN: Philadelphia, Bala Cynwyd, Radnor, Plymouth Mtg, Exton, Wynnewood and King of Prussia.

*John L. McClain and Associates are designated as a Federal Debt Relief Agency by an Act of Congress and is able to assist consumers seeking relief under the U.S. Bankruptcy Code.

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