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    HAMP: Focusing on Mortgage Relief Programs Misses the Big Picture

    The Washington Post has an article detailing the ups and downs of the Obama Administration’s Home Affordable Modification Program (HAMP). Heritage previously pointed out several flaws with HAMP, and it’s no surprise that nearly 30 percent of those who qualified for the program have re-defaulted on their mortgages. The Post … More

    Latest Obama Mortgage Refinance Plan Another Dud

    Undeterred by the underperformance of several previous efforts at mortgage refinancing, the Obama Administration has announced yet another plan designed to refinance the “underwater” mortgages of homeowners who owe more on their mortgage than their houses are currently worth. However, this version of the Home Affordable Refinance Program (HAMP) has … More

    Morning Bell: Liberalism is Failing

    On Tuesday, the National Association of Realtors reported that July sales of existing homes fell by 27% from June of this year and by 25.5% compared to July 2009. This annual sales rate of 3.83 million homes was the lowest since NAR began keeping track of sales in 1999. Then … More

    "When Liberalism Doesn't Work It Discredits Liberalism"

    This past Friday the Associated Press reported: Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday’s report from the Treasury Department suggests … More