Mortgage Programs Fall Short in Keeping Homeowners out of Foreclosure

To alleviate some suffering by homeowners, the Obama Administration introduced the “Making Homes Affordable” plan last March. Unfortunately, the plan has not yet had the intended effect.

Article by the Grand Law Firm

Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that we have reached [...]

Fed’s plan to modify loans to prevent foreclosure shows progress; but only for 12 percent of those eligible

Dennis Norman

Included in the “Making Home Affordable” program from the Obama administration is the “Home Affordable Modification Plan” (HAMP) designed to help 3 to 4 million home owners by modifying their existing loans to help them be more affordable.
Last week, Michael S. Barr, the Assistant Secretary for Financial Institutions, testified before a congressional sub-committee on [...]