Congressmen Call for End to HAMP

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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 It's one more example of why government interference in the private sector doesn't work and that's why it should be repealed."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 of any meaningful standard of success," calling the half million plus number of permanent modifications "anemic".

Rep. Patrick McHenry who cahirs the Oversight subcommittee on TARP says "The number of homeowners kicked out of HAMP - and arguably left worse off by participating in the program- exceeds the number actually helped by hundreds of thousands," he said. "Because the administration won't listen to bipartisan calls to fix this program, the only option left is to end it."  

The counseling team with Re-Create The Dream consists of a bank negotiator and CPA available by appointment to review all possible work out options and help homeowners execute a strategy that leads them back to their dream of homeownership with equity. The one-hour consultation is free of charge. For homeowners who are candidates for a loan modification, the bank negotiator will also handle the modification free of charge.

To schedule your appointment, contact Nancy Moeller at 714 276-7006.


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Tommy Taylor
Taylor Properties & - Kerrville, TX
CNE- Texas Hill Country Realtor

Leave it to our Government to step in to lend a hand and leave the situation worse off then when they found it.

Feb 04, 2011 02:44 AM #1
Ed Urbaniak
The Chin Sells Team at Weichert Realtors - Fairfax, VA

I don't agree that the only left to do is throw out HAMP.  How about fix it so that it works?

Feb 04, 2011 02:46 AM #2
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