Tool helps unemployed get loan mods

HAMP program requires 9 months of benefits

A new Web-based tool can help workers who have lost their jobs demonstrate whether their unemployment checks will be large enough and last long enough to help them to qualify for a mortgage loan modification.

The Home Affordable Modification Program (HAMP), one of the Obama administration’s main foreclosure prevention initiatives, allows laid off workers to obtain loan modifications — but only if loan servicers can determine that borrowers have at least 9 months of unemployment benefits remaining.