Treasury Says HAMP Not Working
By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Treasury: HAMP not working We've reported the failure of HAMP many times before, but now even senior insiders are piling on. Neil Barofsky, special inspector general for the Troubled Assets Relief Program (TARP), said in a report issued yesterday that Treasury now expects only 1.5 million to 2 million homeowners to get mortgage relief (as opposed to the 4 million it initially claimed). So far, fewer than 200,000 have actually graduated from the trial program into a permanent modification, and the inspector general's report warned that many borrowers are at risk of redefaulting on their mortgages even after rece...