Orange County

[TrabucoDom]

Please, no more programs, your killing us!

http://www.smartmoney.com/spend/real-estate/5-mortgage-relief-programs-that-fell-short-1331675035727...

5 Mortgage Relief Programs That Fell Short 

HAMP:                                    projected to help 3-4 million / actually helped 933,327

HARP:                                    projected 4-5million / actual 1 million

FHA Short Refi Program:   projected 4 million / actual 880

FHASecure:                          projected 80,000 / actual 3290

Hope for Homeowners:     projected 400,000 / actual 764

[AlexSin]

So it didn't cost as much to tax payers as been expected, or did it?

[TrabucoDom]

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AlexSin wrote:

So it didn't cost as much to tax payers as been expected, or did it?

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probably not, but they keep coming back for another try.

[Seneca]

Ha ha, good thinking Alex.

Except I'm sure we still had to pay for a few dozen $120,000 a year lawyers and bureaucrats to staff the efforts, plus all the glossy pamphlets mailed out, the official government forms printed up, et cetera.   And do we imagine all the extra government help is going to lose their jobs now that it turns out they're not needed?  I only wish.

[AlexSin]

My guess is it actually cost us as much as government has planned. I think all of those programs just ran out of money. I happen to believe that there aren't any government agencies that would leave money on the table.