rssHAMP Continues to Produce Lackluster Results
Friday, August 20, 2010 at 3:05 pm
- 8 Comments
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.
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8 Comments
Pingback posted August 20, 2010 @ 3:59 pm
[...] View full post on The Washington Independent [...]
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 [...]
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 [...]
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 [...]
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