[quote=SK in CV]Just to clarify, HAMP is not a mandatory program. Outside of Fannie Mae or Freddie Mac, participation by lenders is voluntary. There are some incentives to participate, which are designed to encourage modification rather than foreclosure. From the lenders perspective, they are insufficient to turn a bad loan into a good loan.
Previous versions haven’t worked. This one won’t either.[/quote]
If this one won’t work, they come up with another. If that one won’t work, they’ll come up with another. They’ll keep on doing it until America is bankrupt or until it work. Nothing really surprising to me.
