The HAMP program is proving successful, yet slow. It is evident that there is still room for improvement to this program, as we see that homes are still being foreclosed on, and 80% of mortgage modifications in America still have no permanent mortgages. To assist HAMP with the overflowing workload of mortgage modifications, it would be a great benefit to extend designated responsibilities to each individual state. The benefit of extending responsibility to each state will heighten the efficiency of the HAMP program and...
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...e in our nations lending and spending.
There is no doubt that through the Obama Administration’s diligent efforts, that the foreclosure crisis in America will soon be a distant memory. Adding localized HAMP mortgage counselors to rural and urban areas will also bring jobs which will in turn promote spending across our great nation. The new regulation and supervision on bank lending will enable more homes to be affordable to more Americans. Just as each electrician has city codes to follow, and city inspectors to answer to, our Banks must have codes and officials to answer to as well. It is quite unfortunate that banks got so “creative” with their lending that now they need to be supervised by government. Our great country is so young that this brief economic crisis will be a lesson learned, and economic lending and spending will flourish without further ado.
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