Tuesday, August 04, 2009
The Plot Thickens
The next item - which I will henceforth refer to as Humpty Dumpty - is a new incentive program for servicers and investors. In this one (the HPDP segment of HAMP), the Treasury will pay an incentive each month for 24 months for successful modifications. The amount of the incentive is pegged to expected housing value depreciation. that's a right!
You may have recently read an article about the staggering number of Americans on anti-depressants. Having no plans to join them, I took the precaution of heading out and buying a lot of cleaners and a new, ultra-fancy mop before reading the Humpty-Dumpty program release. (Cleaning vastly improves my mood.) Thus, I only laughed until I cried, rather than beginning in broken-hearted sobbing and ending into a descent upon my doctor demanding pills. So be warned if you are not in a good mood.
I will write about this if I ever regain my composure. I had not in my lifetime ever expected to laugh harder at Treasury programs (try FinancialStability.gov) than SNL skits, but hey, sometimes art presages reality.
Ofcourse, I then did cry a bit.
Art presages reality indeed, though perhaps not quite as well.
I'd also like to thank you for your consistently excellent posts. They are an education.
By the time the home is resold in foreclosure, the mortgage company could be looking at six months to a year or two of 6% in penalties taken from the sale price.
I think Abdul used google translator to translate his message into English, that is why the grammar is off.
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