Mike Shedlock

Obama had lofty goals of helping 4 million Americans keep their homes with his Home Affordable Mortgage Program (HAMP).

Here are some quick facts:

  • HAMP modified 1.2 million mortgages (70% less than the target)
  • 306,000 re-defaults
  • Another 88,000 at risk
  • The re-default rate is an alarming 30%
  • The re-default rate of those in since 2009 is 46%

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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