With home foreclosures showing no sign of relenting, the Obama Administration is getting serious about keeping people in their homes. The administration's newly expanded "Home Affordable Modification Program" (HAMP) puts increased pressure on mortgage companies to modify loans and expand their accountability and transparency or face possible "monetary penalties" and sanctions. Will this new program do enough given the unemployment numbers, the economy and the number of people who need help?
Also on this Episode
Guests:
Alvina McHale, Communication Director with the Treasury's Homeowner Preservation Office
Richard Green, Director USC Lusk Center for Real Estate
Sharon Kinlaw, Assistant Director, Fair Housing Counsel of the San Fernando