"Treasury official told HuffPost on Tuesday that no one who is current on their mortgage payments can become delinquent because of a HAMP modification."
So what ARE the consequences of the BLATANT LIES, that this Treasury official told the Huffpost?
Treasury's wrong about that," said Diane Thompson, a lawyer with the National Consumer Law Center. "Everybody comes out of the trial modification period owing more than they did when they went in, and everybody comes out with their credit worse."
"even in circumstances where they never missed a payment, they may face back payments, penalties, and even late fees that suddenly become due on their 'modified' mortgages and that they are unable to pay, thus resulting in the very loss of their homes that HAMP is meant to prevent."
Arthur Delancy Huffington Reporter
I personally can testify that this is exactly what happened to me. I went in current and came out in default.
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