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HAMP FALLING SHORT OF HELPING TO SLOW FORECLOSURE CRISIS

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The region, after all, leads the country in bad mortgages – partially because mortgages in Las Vegas were so far underwater that they didn’t qualify for help from Washington. Journal that he.

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HAMP FALLING SHORT OF HELPING TO SLOW FORECLOSURE CRISIS America’s foreclosure crisis isn’t over. For borrowers who first sought mortgage relief under HAMP when the program was launched in 2009, the redefault rate is nearly 53 percent. Overall, more than a third of people who have participated in the program over its lifetime have redefaulted.

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Top Treasury Official Backs Off Promise To Stem Foreclosure Crisis, Signature Initiative May Fall Short By Shahien Nasiripour A top Treasury Department official indicated Thursday that the Obama administration’s signature foreclosure-prevention initiative may not deliver on its promise to help three to four million troubled homeowners permanently reduce their monthly payments.

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