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Posts tagged "Home Affordable Mortgage Program HAMP third-party beneficiary implied covenant of good faith dealing promissory estoppel foreclosure"

First Circuit Holds Homeowner Not Third-Party Beneficiary of Federal Mortgage Modification Program

The First Circuit Court of Appeals has held that a homeowner is not a third-party beneficiary of the federal Home Affordable Modification Program ("HAMP") and that the mortgagee had no contractual or other legal duty to the homeowner to negotiate a modified mortgage. The Court affirmed a district court judgment dismissing the homeowner's complaint seeking to stop a foreclosure.