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Posted: 7/24/2013 5:28:45 PM EST
Mish's Global Economic Trend Analysis

" 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%

... "
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