HAMP is Ineffective: House moved to kill HAMP – Mar. 29, 2011: Ventura Short Sales

by Gary and Lisa Schoeffler on April 3, 2011

in Legal Updates, Sellers, Short Sales

The program taps the federal bailout that saved the big banks, providing incentives to mortgage servicers to modify mortgages for borrowers behind on their payments.

“To many struggling Americans seeking permanent mortgage relief, HAMP offered little more than false hope. More homeowners have been kicked out of the program than have received permanent relief,” Rep. Darrell Issa, the California Republican who chairs the House Oversight Committee, said in a statement.

Those of us who actively work in short sales have known the program was ineffective since very early on! The characterization of the program as offering “false hope” to homeowners is very accurate. Any hope on the part of Realtors that the program would streamline the process was short lived and has long since faded. We have been handling Ventura County short sales for the past few years and if HAMP is taken off the table it will mean a few less forms to fill out!

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

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