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Book Synopsis
In the wake of the financial crisis of late 2008, the Treasury developed HAMP (Home Affordable Modification Program) as the latest in a series of federal government initiatives to stem the growing foreclosure problem. At the time, foreclosures had been rising for several years already, leading to an increase in the number of empty homes owned by banks and weakening the banking system, at a time when policymakers felt that restoring economic and bank stability was crucial. The history of prior efforts, which met with limited success, provides a useful context for examining HAMP and its performance to date. This book examines the consequences of mortgage irregularities for financial stability and foreclosure mitigation.

Foreclosure Mitigation & Mortgage Irregularities

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    A Hardback by Frank P Mitchell, George A Rehman

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      Publisher: Nova Science Publishers Inc
      Publication Date: 26/01/2012
      ISBN13: 9781613244333, 978-1613244333
      ISBN10: 1613244339
      Also in:
      Social and ethical issues

      Description

      Book Synopsis
      In the wake of the financial crisis of late 2008, the Treasury developed HAMP (Home Affordable Modification Program) as the latest in a series of federal government initiatives to stem the growing foreclosure problem. At the time, foreclosures had been rising for several years already, leading to an increase in the number of empty homes owned by banks and weakening the banking system, at a time when policymakers felt that restoring economic and bank stability was crucial. The history of prior efforts, which met with limited success, provides a useful context for examining HAMP and its performance to date. This book examines the consequences of mortgage irregularities for financial stability and foreclosure mitigation.

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