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Dennis Norman Earlier this week the Treasury Department released it’s eight “Tranche” report updating the status of the TARP (Troubled Asset Relief Program) which includes the Home Affordable Modification Programthat I have written about on several occasions. The report shows that progress is being made with regard to loan modifications with $27.07 billion, of [...] 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 [...] 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 [...] Wells Fargo recently announced that, in the first half of 2009, through lower rates, refinances and modifications, it alone has helped nearly one million American homeowners lower their mortgage payments or restructure their mortgages. Included in the loan modifications were: Approximately 750,000 loans refinanced using the Home Affordable Refinance Program (HARP) More than 200,000 modifications [...] |
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