Loan Modifications Jump. Is This Progress?

The stated goal of the Home Affordable Mortgage Program is to modify 3 to 4 million mortgages by 2012.  At a pace above 110,000 per month, nearly double last month, it could be that the program is on track by number of mortgages.  But in dollar terms, $2.2 billion allegedly saved by homeowners doesn’t compute.  Over what period of time?  Total funding is $75 billion, so where, when and how is that money being spent?

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: