I thought this was an interesting concept concerning loan modifications such as HAMP, their default rate, the contrast of foreclosure, and the idea of putting the money towards paying down our national debt.
Disclaimer: if you prefer reading your news over a cup of coffee in a relaxed atmosphere, or your family's sense of humor gen has skipped a generation, don't watch the video; these guys talk fast and are high energy.
Have a Great Day
Lois: Interesting. I suppose my first thought is those giys are WAY too upbeat (and cavalier) about automatically dispossessing millions of people from their homes. If 35% of HAMP modifications end up in default, that means 65% of them work. I understand the economics in the video, but it seems to me that we should try to help people with legitimate hardships to stay in their homes. Thanks for sharing!
Thanks for the comment Andrew. I guess they are stating that with 35% of HAMP not going through, and 50% of other modifications failing, the track record is not good. After watching these guys for a few years, they get very frustrated with a system that says it will help people, and then puts up roadblocks to ensure failure; sort of - If your incouraging failure why have the programs at all.
I thought their conversation was interesting, got me thinking this morning.
Great post! Excellent information's on loan modification!
Thanks for sharing.
Thanks Adam...These guys always are interesting, and a great boost in the morning.
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