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View Diary: Thank you President Obama (321 comments)

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    You could not read into what I wrote any implication.  I was clear that I was talking about modifications, not just HAMP.  

    And I am still looking for the figures I mentioned, because I do remember it used, when it comes to the overwhelming majority of homeowners under HAMP being left worse off financially on a modification.  I want to find it though, so I can articulate clearly how that figure was developed.  It may be counting more than those affected by the straight dollar amounts due (for example, instead of just the balloons or back-end increases in principal due under the note in some types of mods, the figure may also include that under MHA the borrower's credit rating is trashed because the borrower is reported as delinquent on his mortgage by the lender each month he or she is under modification (delinquent because the loan is not being paid according to the original mortgage contract even if it is being paid according to the mod.)

    It is Christmas morning, however, so I am not going to look for the data now.

    As for your remaining comments, about what borrowers don't have to do, etc., you're technically correct.  But then folks shouldn't go around blowing the horn of the Administration about the program either if it is unwilling to use its power to see its own programs be a success.

    I follow the court cases closely, however, so you're just wrong about the lenders and why they are getting their asses handed to them in court.  You just are.

    If you don't stand for something, you will go for anything. Visit Maat's Feather

    by shanikka on Sat Dec 25, 2010 at 06:13:48 AM PST

    [ Parent ]

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