A previous post hinted that the Treasury and HUD would be finding ways to spur banks to work out more loan modifications pursuant to HAMP. Today, Secretary Geithner indicated that TARP will be extended to October 2010. Part of the unspent TARP money will be used to spur the loan modification programs originally implemented by the stimulus package.
This is good news for those who are currently attempting loan modifications and having no luck. However, it is best to take a wait-and-see approach on these things. Who knows which financial shoe will drop next.
