Senator Ted Kaufman, the Congressional Oversight Panel's Chairman has declared the Home Affordable Modification Program a failure, citing the fact that they are only on pace to do about 700-800k modifications instead of the declared 4 million.
Sen,. Kaufman cites a mirad of reasons the program failed, from poor logisitical implimentation to pbad marketing of the program. Those of you who have worked with distressed real estate would certainly agree with what he talks about on this video.
Many agents, myself included, had a strong feeling it would turn out this way (HAFA is as well), but looking back, what could have been done differently? What needs to be done to move things forward and clean up this mess?
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