Robert Schiller from Yale gave props to Richard Green of USC for his recommendation that there be a targeted tax credit to encourage homeownership. Green and Andrew Reschovsky of Wisconsin have studied the data closely are clear that the real benefit of existing tax policy allowing a standard deduction for interest on mortgages is for …
Tag: HAMP
Reckoning Coming for Home Modification Failures
New Orleans The good news is that more people are recognizing that the Administration’s HAMP program designed to achieve home mortgage modifications and prevent foreclosures has been a dismal failure. The bad news is that the Republicans are arguing that rather than fix it and actually prevent foreclosures, the program should be killed to save …
Foreclosure Modifications, Killed by the Cure
New York City When the Inspector General of the Treasury Department starts agreeing with me that the Treasury Department and the banks are totally messing up the HAMP – Housing Modification Program – you just know it must be terrible! And it is…according to a recent report in the Wall Street Journal by Jessica Silver-Greenberg: …