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<blockquote data-quote="texan" data-source="post: 1177825" data-attributes="member: 38206">Here is one that is doing well:Way back in 2009, President Obama&#039;s Treasury Department launched theHome Affordable Modification Program, a massive authorization to help homeowners strugglingwith their mortgages in the wake of the financial crisis. 1.2 milllion people participated in the programat a cost to taxpayers of $4.4 billion.A report dropped this week from the Office of the Special Inspector General for TARP (SIGTARP)that HAMP has a stunning failure rate.Of the 1.2 million HAMP participants, 306,000 have re-defaulted on their mortgages, at an additional&nbsp;cost to taxpayers of $815 million.What&#039;s more, another 88,000 homeowners in the HAMP program have missed payments and areat risk to re-default.HAMP has been re-authorized to be in effect through 2015.An aggressive housing policy would have and could still be a very effective economic program tohelp America&#039;s still-struggling economy - but it&#039;s important to recognize the risk of having thegovernment takeover some of the riskiest loans.The Stunning Failures of Obama&#039;s Mortgage Program - Kevin Glass</blockquote>

[QUOTE="texan, post: 1177825, member: 38206"] [B]Here is one that is doing well: Way back in 2009, President Obama's Treasury Department launched the Home Affordable Modification Program, a massive authorization to help homeowners struggling with their mortgages in the wake of the financial crisis. 1.2 milllion people participated in the program at a cost to taxpayers of $4.4 billion. A report dropped this week from the Office of the Special Inspector General for TARP (SIGTARP) that HAMP has a stunning failure rate. [COLOR=#800000]Of the 1.2 million HAMP participants, 306,000 have re-defaulted on their mortgages, at an [I]additional[/I] cost to taxpayers of $815 million. [/COLOR] What's more, another 88,000 homeowners in the HAMP program have missed payments and are at risk to re-default. HAMP has been re-authorized to be in effect through 2015. An aggressive housing policy would have and could still be a very effective economic program to help America's still-struggling economy - but it's important to recognize the risk of having the government takeover some of the riskiest loans. The Stunning Failures of Obama's Mortgage Program - Kevin Glass [/B] [/QUOTE]

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