Categorie
ambiente

Treasury Department Says HAMP Doesn’t Put People Into Default

A federal watchdog reported Monday that the Obama administration’s signature anti-foreclosure program sometimes causes people to lose their homes to foreclosure — a conclusion that had already been reached by some homeowners and their advoc…

A federal watchdog reported Monday that the Obama administration’s signature anti-foreclosure program sometimes causes people to lose their homes to foreclosure — a conclusion that had already been reached by some homeowners and their advocates.

The Treasury Department, which administers the Home Affordable Modification Program, did not respond to that claim in its answer to the watchdog’s report. But a Treasury official told HuffPost on Tuesday that no one who is current on their mortgage payments can become delinquent because of a HAMP modification.

Consumer advocates heartily disagree.

Read More…
More on Foreclosure Crisis