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Released: December 14, 2010
U.S. foreclosure-prevention program fell short
Source: Brady Dennis, Washington Post (Free Registration)
The Treasury Department’s primary foreclosure-prevention program has failed to live up to expectations and has suffered from a lack of “meaningful goals,” according to a report from a congressional watchdog panel due out Tuesday.
The government’s Home Affordable Modification Program, or HAMP, is on pace to prevent 700,000 to 800,000 foreclosures - a significant figure, but far fewer than the 3 million to 4 million struggling homeowners Treasury officials originally hoped to help, according to the bipartisan Congressional Oversight Panel.
Read Full Article: U.S. foreclosure-prevention program fell short
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