Last week’s big news in loan modifications was that HAMP, Obama’s administration’s program to get troubled (i.e. 60 days behind their payments) loans back in line with “aggressive” modifications made its first target of 50,000 trial loans before November. That is what the government hoped anyway.
The big news this week could be that foreclosures seem [...]
When HAMP started functioning just a few months ago everybody said it was working too slow that it would never come close to Its ambitious goals. Last Thursday nearly a month before the deadline self imposed by the administration HAMP has enrolled 50,000 troubled home loans for trial loan modifications. Whatever your view on the [...]
While everybody is deciding if Obama deserves the Peace Nobel prize on effort and good intent or not, another achievement is not receiving half as much attention. This month (October 09) more than 500,000 troubled home loans have joined a trial modification program, the Obama administration announced this Thursday.
Trial loan modifications last around 3 months [...]
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