The expansion of the Home Affordable Modification Program is getting a lot of applause even though judging from past performance it may not get a standing ovation when the new deadline expires in December 2013.

The joint announcement of the U.S. Treasury and Department of Housing and Urban Development to expand and extend HAMP “is strongly applauded” by the Homeownership Preservation Foundation, said Colleen Hernandez, the nonprofit’s CEO, given projections that foreclosure activity will increase in 2012 and currently millions of distressed homeowners are in desperate need of meaningful assistance. “HAMP expansions are good news for everyone.”

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