HAMP Has Forty Percent Failure Rate

TRIPLE DIP RECESSION?
More than 40 percent of homeowners seeking help from the Obama administration’s flagship effort to rescue those at risk of foreclosure have dropped out of the program.

The latest report on the program suggests foreclosures could rise in the second half of the year and weaken an ailing housing market.

About 530,000 borrowers have fallen out of the program as of last month, the Treasury Department said Tuesday. Nearly 1.3 million homeowners had enrolled since March 2009. – More than 40 percent of borrowers leave Obama mortgage-aid program.

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