Another testimony to show why the Government should have stayed out of the Housing market in the first place. Focus on getting people back to work and stop with all the Band Aid fixes-PLEASE!!!!!
Mathews Realty Group
Retirement Advisor/Investor Services
Self Direct IRA/Self Employed 401K plans
Congressional Panel Report Says Foreclosure Mitigation "Largely Failed"
The final report released on Wednesday by the Congressional Oversight Panel (COP) regarding the programs and uses of money under the Troubled Asset Relief Program (TARP) paid special attention to foreclosure mediation programs, particularly the Home Affordable Modification Program (HAMP).
Because of this, the report says “The TARP is now widely perceived as having restored stability to the financial sector by bailing out Wall Street banks and domestic automotive manufacturers while doing little for the 13.9 million workers who are unemployed, the 2.4 million homeowners who are at immediate risk of foreclosure, or the countless families otherwise struggling to make ends meet.”
The report also reiterated the negative sentiment that has surrounded HAMP for months, pointing out the programs failure to meet its initially projected number of modifications.
No comments:
Post a Comment