Portland Tribune has story today HERE about progress and problems with HAMP loan modification program in Oregon and metro Portland.
I was interviewed by reporter Steve Law and am quoted in the story:
Critics say the federal program has been poorly managed. And a homeowner trying to redo a mortgage still faces a “gauntlet from hell,” says Tom Cusack, editor of the Oregon Housing Blog and the retired federal housing chief for Oregon.
“Once you can make it through, the savings are substantial,” Cusack says. “But the process is very difficult to get through for most people.”
One homeowner in trouble and interviewed for the story is Cassandra Garrision who some might remember is a former welfare mom, shelter resident, and HUD Section 8 voucher holder.
Editorial comment: I have consistently found Tribune reporter Steve Law to be a diligent and thoughtful reporter on a variety of topics. Check out his this recent story HERE about the shrinking middle class as an example of his work and HERE is another about rising foreclosures that was initially published in the Fall of 2008. (Steve is also editor of Tribune's Sustainable Life section).
Originally created and posted on the Oregon Housing Blog.