PNC Mortgage - Home Affordable Mortgage Program ("HAMP")

Chimicles & Tikellis is investigating a potential class action lawsuit against PNC Mortgage related to deceptive foreclosure and/or loan modification practices. In October 2008, the United States Government established the Troubled Asset Relief Program ("TARP") which gave the Department of Treasury the authority to purchase and insure troubled assets held by financial institutions, including PNC Mortgage. The Home Affordable Modification Program ("HAMP") was then created to stem the foreclosure crisis by providing affordable mortgages loan modifications and other alternatives to eligible homeowners.

Financial institutions that accept TARP funds are subject to a mandatory inclusion under HAMP and comply with the certain guidelines. This institutions may receive money from the Government for each HAMP modification they complete but it is often more profitable for them to keep the mortgage in a state of default or distress and simply push the homeowner towards foreclosure.

If you have tried to obtain a mortgage loan modification but PNC Mortgage has begun foreclosure or delayed your acceptance into a loan modification program, resulting in delinquent payments and/or penalties, please contact the attorneys below.