The House of Representatives late Tuesday voted to kill HAMP, the White House's signature loan modification program and to stop the administration from spending more TARP funds on foreclosure prevention programs.

The Home Affordable Modification Program (HAMP) is the "poster child for ineffective government programs," declared Rep, Spencer Bachus, R-Ala., chairman of the House Financial Services Committee. "It doesn't work and has actually made things worse for many struggling homeowners."

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