Bring Back HEMAP

Glad to see all the favorable coverage of the push to restore HEMAP funding today.

As I’ve said here before, this was one of the most penny-wise-pound-foolish cuts in Tom Corbett’s budget.

Some government programs raise revenue. We spend money on the IRS, but it brings in way more revenue than we spend. If we cut IRS spending, we actually increase the deficit.

The same is true of HEMAP. Spending money on preventing foreclosures saves borrowers, lenders and taxpayers money, since allowing the foreclosures to go through would cost all these parties much more.

When you cut funding for HEMAP, you’re not actually saving anyone money.

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