In spite of HAMP, there have been very few permanent mortgage modifications. Fannie(and the banks) have an incentive to foreclose, rather than modify mortgages.
Fannie Mae’s (and the Banks’) Incentive to Foreclose Rather than Modify Homeowners’ Mortgages |
| By: southof Saturday October 23, 2010 4:30 pm |
3 Comments
ShametheBanks.org — Tell Your Story |
| By: Richard Zombeck Monday April 5, 2010 12:15 pm |
Why ShametheBanks.org? Because it’s been over a year since the Obama Administration and Treasury announced the Making Home Affordable plan, also known as HAMP. The plan was supposed to potentially help nearly six million struggling homeowners by lowering monthly mortgage payments and in some cases reducing principal.
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