{"id":382590,"date":"2010-03-02T22:01:50","date_gmt":"2010-03-03T03:01:50","guid":{"rendered":"http:\/\/www.personalliberty.com\/liberty\/gop-condemns-obama-administration-for-failed-mortgage-assistance-program\/"},"modified":"2010-03-02T22:01:50","modified_gmt":"2010-03-03T03:01:50","slug":"gop-condemns-obama-administration-for-%e2%80%98failed%e2%80%99-mortgage-assistance-program","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/382590","title":{"rendered":"GOP Condemns Obama Administration For \u2018Failed\u2019 Mortgage Assistance Program"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/pictures.directnews.co.uk\/liveimages\/Barack+Obama_1961_19638720_0_0_7050322_300.jpg\" alt=\"GOP condemns Obama administration for 'failed' mortgage assistance program \" align=\"right\" class=\"post_image\">Republican lawmakers blasted the Obama administration&#8217;s mortgage assistance program last week, claiming that it has harmed the nation&#8217;s economic recovery.<\/p>\n<p>Representatives Darrell Issa (R-Calif.) and Jim Jordan (R-Ohio) argue that the $75 billion Home Affordable Modification Program (HAMP), which provides incentives for mortgage companies to modify loans of qualified buyers, has failed &quot;by every empirical measure&quot; and is a waste of taxpayer&#8217;s money. <\/p>\n<p>When President Obama unveiled the program one year ago, he said that it would help 3 million to 4 million homeowners avoid foreclosure, according to <i>ABC News<\/i>. As of last month, the Treasury Department estimated that 116,000 homeowners have received permanent loan modifications.<\/p>\n<p>&quot;[The] Treasury&#8217;s own data suggests that hundreds of thousands of homeowners would receive temporary modifications but fail to qualify for permanent ones, thus ultimately leading to default,&quot; said the lawmakers. &quot;These homeowners would have been better off if they had defaulted earlier and spent the payments on more affordable housing options.&quot;<\/p>\n<p>Officials with the Treasury Department have admitted that the treatment of borrowers has been a dilemma over the past year, according to the <i>Associated Press<\/i>. They are currently working on several consumer protection provisions, including barring lenders from foreclosing on homeowners while their applications are being considered. <br \/><img decoding=\"async\" alt=\"ADNFCR-1961-ID-19638720-ADNFCR\" src=\"http:\/\/feeds.directnews.co.uk\/feedtrack\/justcopyright.gif?feedid=1961&amp;itemid=19638720\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republican lawmakers blasted the Obama administration&#8217;s mortgage assistance program last week, claiming that it has harmed the nation&#8217;s economic recovery. Representatives Darrell Issa (R-Calif.) and Jim Jordan (R-Ohio) argue that the $75 billion Home Affordable Modification Program (HAMP), which provides incentives for mortgage companies to modify loans of qualified buyers, has failed &quot;by every empirical [&hellip;]<\/p>\n","protected":false},"author":4205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-382590","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/382590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4205"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=382590"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/382590\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=382590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=382590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=382590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}