According to a report coming out this morning from the Congressional panel overseeing bailout funds, foreclosures are way outpacing efforts to reduce them. HAMP, the Home Affordable Modification Program, in spite of best efforts, just isn't stopping the damage.
"Foreclosures continue every day as Treasury ramps up the program, with foreclosure starts outpacing new HAMP trial modifications at a rate of more than 2 to 1," the report said.
