Investigator scrutinizes foreclosure-prevention program

03/24/2010 | Bloomberg · CNNMoney

The special inspector general for the Troubled Asset Relief Program released a report scrutinizing the effectiveness of the Home Affordable Modification Program. Treasury Department officials said HAMP will help as many as 4 million struggling borrowers, but questions remain about how many will redefault. "A year into the program, although more than a million trial modifications have been initiated, the number of permanent modifications thus far, 168,708, has been, even according to Treasury, 'disappointing,' " according to the report.

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Bloomberg · CNNMoney

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