Posts Tagged ‘loan modications’

Barry Ritzholtz: HAMP Prolonging The Agony

Some people disgust me and Mr. Ritzholtz is on the top of my list right now. 

Mr. Ritzholtz insists that the reason HAMP is not working is because homeowners can’t afford their homes.  He says it would be better to let the lenders foreclose and absorb the losses, and let the families get into “more affordable” rentals.  He says, in effect, HAMP is just prolonging the agony and if the process were just allowed to play out, the market would correct itself over time.  You can read his article here.

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