More bad news for homeowners who’ve been struggling with mortgage payments: Fitch Ratings released a report yesterday predicting that most homeowners who’ve received a loan modification under the federal Home Affordable Modification Program, or HAMP, will default within a year.

The redefault rate within a year is likely to be 65 percent to 75 percent under HAMP for loans that aren’t back by the federal government, Fitch said.



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