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hamp success: What is the fate of HAMP? - 03/03/11 10:23 AM
As reported in DS News, a hearing was held today to determine the fate of four federal foreclosure mitigation programs, including HAMP and HUD's Neighborhood Stabilization Program.
The hearing, titled "Legislative Proposals to End Taxpayer Funding for Ineffective Foreclosure Mitigation Programs," had witnesses from several government agencies.
"We need to break down barriers that have delayed the housing recovery, including expensive and ineffective government programs that have failed to help homeowners. Unfortunately, these programs were set up in haste, executed poorly, and have done little to restore stability in the marketplace," said the Subcommittee Chairman Judy Biggert.
The Department of Treasury released … (0 comments)

hamp success: Congressmen Call for End to HAMP - 02/04/11 10:41 AM
According to DS News today, three congressmen have proposed a bill to end the Home Affordable Modification  Program (HAMP) program. One of the congressmen, Darrell Issa is the chairman of the Oversight and Government Reform Committee. Rep. Jim Jordan says, "HAMP is a colossal failure. In many cases, it has hurt the very people it promised to help. It's one more example of why government interference in the private sector doesn't work and that's why it should be repealed."
Neil Barofsky, the special inspector general of TARP, recently released a report to Congress saying that the program "continues to fall dramatically short … (2 comments)

 
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Nancy Moeller

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