Monday, September 30, 2013

HAMP and Mortgage Foreclosure Updates

Daniel Indiviglio wrote an article in the Atlantic, "Should the Government Scrap its Mortgage Modification Program?" He notes ranking Congressmen's letter to the U.S. Secretary of Treasury calling for the Obama administration to cancel HAMP. The Congressmen states that HAMP has only reached 346,816 borrowers with a permanent mortgage modification. They further noted hearing testimony that HAMP's taxpayer-funded incentives for mortgage modifications has had little impact on servicer practices.