Mortgage Modification Program Results (technically they are results)

WASHINGTON (MarketWatch) -- With expectations for millions of foreclosures on the horizon, only 170,000 troubled borrowers have had their mortgages modified from three-month temporary plans into more affordable permanent loans as part of a $75 billion Obama administration program, the Treasury Department said Friday. That number is up from 116,000 in January. An additional 91,800 permanent modifications have been approved by lenders, but are waiting for borrower signatures, according to the Treasury.

Grandpa:
The Government's Home Affordable Modification Program (HAMP) has been in existence for one year and 170,000 permanent mortgage modifications is the best they could muster!

Don't forget about another NEW PROGRAM; the Home Affordable Foreclosures Alternatives (HAFA), will provide incentives to servicers to provide short sales and deeds-in-lieu of foreclosure. HAFA begins April 5, 2010.

Quick recap of existing programs (again with nominal results):
HAMP   Home Affordable Modifcation Program
HARP    Home Affordable Refinance Program
HAFA    Home Affordable Forclosure Alternatives

 Next Likely Government Program

Home Equity Manipulation Program (HEMP)

Simply go online to the Treasury Department, provide them with your

current home equity amount even if it is negative, then calculate what your

home equity was at the market top (they provide you with a

Tim Geithner market top calculator), confirm your email address

and password and they will issue you a check for the difference.