HAMP Continues to Produce Lackluster Results

By
Friday, August 20, 2010 at 3:05 pm

Today, the Treasury Department revealed yet another scorecard for the Home Affordable Modification Program — the administration’s signature effort to stop the foreclosure crisis — showing dreary results. Here’s a good chart from Daniel Indiviglio at The Atlantic:

The government program is starting fewer trial modifications, moving on to fewer permanent modifications and kicking out more homeowners. Thus far, HAMP has kicked out 47 percent of participants. This comes the same week as a ProPublica investigation found widespread problems with the program, meant to significantly reduce monthly mortgage payments for distressed homeowners. Many have had their payments reduced by negligible amounts. Many have gotten bogged down in paperwork. Many have never received a rejection. Indeed, financial companies’ own programs to modify mortgages have worked far better.

Follow Annie Lowrey on Twitter


Comments

8 Comments

HAMP Continues to Produce Lackluster Results North Capitol Street
Pingback posted August 20, 2010 @ 3:59 pm

[...] View full post on The Washington Independent [...]


Auction Foreclosure Property » Foreclosures On The Rise – Loan Modifications Down - News 4 Us (blog)
Pingback posted August 20, 2010 @ 9:23 pm

[...] Post (blog)Mortgage Modifications Slip in July as Home Prices Level OffDailyFinanceHAMP Continues to Produce Lackluster ResultsThe Washington IndependentThe Atlantic (blog) -Chicago Tribune -Wall Street Pit (blog)all [...]


New Foreclosure Search » Blog Archive » Foreclosures On The Rise – Loan Modifications Down – News 4 Us (blog)
Pingback posted August 20, 2010 @ 9:56 pm

[...] Post (blog)Mortgage Modifications Slip in July as Home Prices Level OffDailyFinanceHAMP Continues to Produce Lackluster ResultsThe Washington IndependentThe Atlantic (blog) -Chicago Tribune -Wall Street Pit (blog)all [...]


SEX TOYS
Comment posted August 21, 2010 @ 5:14 pm

will it really work??


Pizza
Comment posted August 22, 2010 @ 2:26 pm

its so hard for me to understand


We saved the banks, if not homeowners, government says « Paraissance Realty Blog
Pingback posted August 24, 2010 @ 8:42 pm

[...] it helped homeowners at all? Today, the government said it had kicked out half of HAMP participants. A ProPublica survey found [...]


discount Louis vuitton
Comment posted September 1, 2010 @ 8:35 am

its so hard for me to understand


dieta south beach
Comment posted September 7, 2011 @ 3:42 am

I was beeing after the Internet for such information and i wanted to thank u for this post. By the way, just off topic, where can i get a version of this theme? – 10x


RSS feed for comments on this post.

Sorry, the comment form is closed at this time.