Wednesday, July 28, 2010

Extend, Gouge, And Pretend

HAMP was announced with great fanfare, a big budget, and a promise that the program could help millions of homeowners. Instead it's mostly gouged desperate people, extracting a few more mortgage payments out of them while doing little to help them.

I don't know if this is how the program designers intended it to work, but either way it's wrong. Heckuva job.