Make sure you digest and analyze these numbers carefully! Over a Million Foreclosures last year and the year before. Another Million expected for 2011. Also, take into consideration the fact that almost 30 percent of these modifications re-default within six months. Success? I think not!
Mathews Realty Group
R.E. Advisor - Investor Services
Self Direct IRA/Solo "K' plan Specialist
Treasury: Nearly 4,500 HAFA Short Sales and Deeds-in-Lieu Completed
Treasury reports that as of the end of February, 4,488 homeowners completed a short sale or deed-in-lieu (DIL) under the Home Affordable Foreclosure Alternatives (HAFA) program. The federal program provides up to $3,000 for relocation assistance after a homeowner exits the home.
Administration officials say that looking at the results behind the numbers, each month HAMP keeps over 25,000 new families in their homes, but the program has had its fair share of critics.
The White House, though, says the continuation of the program is important to reviving the housing market and sustaining the nation’s economic recovery, and President Obama has said he will veto any HAMP-ending bill.
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