Let’s stop beating around the bush….or, in this case, the Obama. The dismal results are in and there is NO question that the efforts, such as they are, of the Obama administration to effectively deal with the nation’s growing foreclosure problem amount to a failure.
Says who? Well, me, for one. But don’t take my word for it, just read the most recent report from the Congressional Oversight Panel which is charged with overseeing the administration’s efforts to cope with the foreclosure emergency.
Called “An Assessment of Foreclosure Mitigation Efforts after Six Months“–the panel report laments the “limited scope and scale of the Making Home Affordable” program……
And, it goes on to raise serious questions about whether any of the programs now in place will actually lead to permanent mortgage modifications for most or even many disperate homeowners.
Joshua Dorkin
Watchdog Panel Finds Fed Anti-Foreclosure Program A Big Flop
by Charles Feldman | April 14, 2010It just ain’t working. The government’s foreclosure prevention program that is. A congressional panel, reports the Washington Post, has concluded that the so-called Making Home Affordable program has, thus far, only “helped” distressed homeowners head off, at least for the time being, about one million foreclosures, by the time all the numbers eventually get added [...]