Mortgage re-defaults increasing at an 'alarming rate'

http://www.consumeraffairs.com/news/mortgage-re-defaults-increasing-at-an-alarming-rate-042913.html

The U.S. housing market all but collapsed in 2009 because of an avalanche of foreclosures. People with subprime mortgages found they couldn't make the payments when rates reset. Even people with prime mortgages found they were unable to keep up when they lost their jobs.
In response, the Treasury Department created the Home Affordable Modification Program (HAMP) to help homeowners avoid preventable foreclosures by encouraging servicers to modify mortgages to reduce monthly payments to sustainable levels. When it passed a stimulus bill, Congress specifically directed the Secretary of the Treasury to “maximize assistance for homeowners.”