Neil Barofsky, the special inspector general for the government's bank bailouts, bluntly labeled the home loan modification program a "failure" in testimony before the House oversight committee.
The Inspector General announced yesterday what everyone else in the Real Estate Industry has already known for months: Home Loan Modifications are a gigantic failure. To make matters worse, in a time where our deficit is out of control, we this program has proven to be an enormous waste of much needed capital.
Home Loan Modification | Why it's a failure...
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