Is HAMP loan modification program dying?

This is a well-written post on HAMP, the loan modification program. It talks about how HAMP appears to be dying due to “strategic defaults” (a person whose home is worth less than the mortgage just quits paying, without trying to sell it or modify the loan) and an overly complicated approval process. ¬†Fewer and fewer people are making application for loan modifications and of those who do apply, many are shot down for lack of income.

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