HAMP May Become Requirement Before Foreclosure

Banks may soon be required to screen and reject homeowners for the government's Home Affordable Modification Program (HAMP) before they can go forward with a foreclosure. That's the proposal lenders were asked to review on a White House conference call according to a report by Bloomberg.

The administration has been mulling new ways to boost the effectiveness of the HAMP program and keep more Americans in their homes.