Monday, December 21, 2009

Heckuva Job

No type of mortgage modification program was ever going to be tremendously successful, but the HAMP program was really badly designed and implemented.

WASHINGTON (AP) -- Homeowners who get a substantial cut in their monthly mortgage payments still stand a good chance of falling behind again, a report by two federal regulators says.

If only the administration had actively supported bankruptcy cramdown....[/brokenrecord]