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Tsongas questions Sec. Geithner about effectiveness of loan modification programs.mpg

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Uploaded by on Feb 24, 2010

WASHINGTON, DC -- February 24, 2010 - This morning, Congresswoman Niki Tsongas participated in a Budget Committee hearing with Treasury Secretary Timothy Geithner which examined President Obama's Fiscal Year 2011 Budget proposal.

At the hearing, Tsongas pressed Mr. Geithner on whether the Home Affordable Modification Program (HAMP), a major part of the Administrations' efforts to address the foreclosure crisis, is working as intended. The HAMP program allows homeowners at risk of foreclosure to work with lenders to modify the terms of their loans so that they can remain in their homes while repaying the bank.

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