Those holding out hope that the federal government has any sort of solution to the foreclosure problem need look no further than the latest report published by the federal government to understand just what a waste of time and money the government’s program really is.
While the number of active trial modifications continues to creep up, the number of loans that fall out of the modification programs also increases…which means the program ain’t working. More importantly, the pitifully low number of total modifications compared to the millions of people who need assistance shows that we’re only scratching the surface in terms of coming up with solutions to the problem.
For the first time, the Tampa / St. Petersburg dropped off the list as one of the areas with the most HAMP activity in the nation. Either less people qualified for the program or the Jobs and economic recovery fairy came to town, put folks back to work and the problems are all solved……
Read the report here