Right Target, But Mod Plan May Still Miss

Hopkins, Cheyenne
March 2010
American Banker;3/29/2010, Vol. 175 Issue 47, p1
Trade Publication
The article discusses the U.S. President Barack Obama administration's Home Affordable Mortgage Program, which helps to prevent foreclosures by emphasizing principal writedowns over interest rate and payment reductions. According to the article, most observers believe that it targets the unemployed and those whose mortgages exceed the home's value. Consumer groups and industry analysts criticize that the proposed changes won't address the complex process.


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