In order to qualify for HAMP, you'll need to be living in the property with a loan originated before January 1, 2009. If you got a HARP refinance after that date, your loan is no longer eligible for a HAMP modification.
BID, contracts. A bid is an offer to pay a specified price for an article about to be sold at auction. The bidder has a right to withdraw his bid at any time before it is accepted, which acceptance is generally manifested by knocking down the hammer. 3 T. R. 148; Hardin's Rep. 181; Sugd. Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.
It can be deduced from the definition that the âlowest evaluated bidderâ is the bidder whose bid has been evaluated and found offer lowest cost as well as meet all terms and conditions stipulated in the bid documents.