Nearly 1.2 million mortgage modifications have been completed since the Home Affordable Modification Program (HAMP) was first launched four years ago. Yet more than 306,000 borrowers have re-defaulted on their loans and more than 88,000 are at risk of following suit, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) found in its quarterly report to Congress.I'm not sure what the problem is here. The Democrats have - to their credit - succeeded in creating lots of "affordable" housing. Take Detroit, for example.
24 July 2013
I'm Shocked. Shocked!
OK, not really. Seems lots of folks in Obama's housing bailout program are defaulting again: