Don’t say we didn’t tell you but it appears the HAMP, TARP, HAFA…and whatever other alphabet soup monikers that you want to use aren’t doing jack to help ease the foreclosure problem.

It seems like it was yesterday when we heard so many heralding the savior (little “s” of course) of the real estate market. Well it now appears that all of the clamor was for naught as consumers nationwide are seeing very little improvement in the foreclosure rates.

The $700 billion relief package devoted $50 billion toward HAMP in an effort to reduce the monthly mortgage loan payments of many distressed Americans – a move that was expected to curb the number of foreclosure filings. But according to The Hill blog, the number of failed mortgage modifications provided by HAMP far exceeds the number of successful ones.

Here’s an eye opening stat for you…for every homeowner who has received a permanent modification under HAMP, ten homeowners have lost their property to foreclosure. For the math challenged, that’s a failure rate of 90%.

So what’s the big problem? Well it looks like the Government is being tighter with the purse strings than bank are. Of the nearly $50 Billion allocated to the program, only $247 Million has been spent.

What’s going on with the rest of the money? Do Pelosi, Reid and Obama and their henchmen have other plans for the funds? Who knows.

But one thing is for certain…it ain’t getting any better. Economists say that more than 1.65 million foreclosure filings were reported thus far in 2010 alone.

It is estimated that we may just be seeing the tip of the iceberg as studies indicate that we could see more than 3 million foreclosures filed by the end of the year.

Am I happy I know how to perform short sales the right way? Do you? If you do it seems that you are in position to have a lot of business and potential income in the coming months.

If you don’t, well there’s always Walmart.

Government Programs Only Save 1 Out Of 10 Homes From Foreclosure! “For every borrower who avoided foreclosure through HAMP last year, another 10 families lost their homes,” the panel said of the administration’s Home Affordable Modification Program. “It now seems clear that Treasury’s programs, even when they are fully operational, will not reach the overwhelming majority of homeowners in trouble.”Congressional Oversight …

TARP program scrutinized for failing to meet projected foreclosure goals The $700 billion relief package devoted $50 billion toward HAMP in an effort to reduce the monthly mortgage loan payments of many distressed Americans – a …

The New Math Surrounding HAMP Doesn’t Add Up anyone who managed to read headlines around the US Treasury’s latest HAMP report card last week would likely have thought the program a huge success –- with …