Yes, you read that title correctly. Just over 31,000 of almost Three Quarters of a Million home owners who've been offered the Home Affordable Modification Plan under the Governments TARP plan have been successfully finalized into a Permnanet Loan Mod.
This Treasury Department program; HAMP or Home Affordable Modification Plan is Sponsored and Funded thru Fannie Mae (FNMA) but the problems continue to fall squarely on the shoulders of understaffed, Under Trained Loss Mitigation Departments of the Banks.
President Obama has said he is Fed Up with all the Delays and Excuses being given by Big Banker and had the Treasury Department sit down with the heads of Citi, Chase, Wells, B of A, IndyMac, etc. to warn them all that penalties and fines would be imposed if they do not start getting their Acts in Gear and get these 3 Month Trial Payment Plan mods into completed and finalized Permanent HAMP's And Soon!
Only Time Will Tell, if these Fat Cat Bankers, who've All Reported Billions in Q3 Profits Recently, while the common folk trying to keep from losing their Homes, keep struggling in Limbo with the ongoing run-around from Loss Mitigation people they speak with?
It's a Travesty and I hope this Threat from the Government to the Big Banker, gets their collective attentions and they start Raising Up that paltry number of just over 31,000 !!!
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