HAMP, Barofsky says in the report, “continues to fall dramatically short of any meaningful standard of success.”
According to Barofsky, the program was doomed from the beginning, because it was inefficiently designed with inconsistent rules that have been revised too frequently. He calls the 522,000 permanent modifications the program provided in 2010 “anemic,” and calls attention to the more than 792,000 trial and permanent modifications that have been canceled and more than 152,000 that are still in limbo.
Read the rest here.
Also see The Reno Real Estate Guide.