Our Guide to Obama’s Floundering Foreclosure Programs

[Donnachaidh]

http://www.propublica.org/article/our-guide-to-obamas-floundering-foreclosure-programs



More than 6 million Americans are behind on their mortgage payments or facing foreclosure <1>. Housing prices have continued to drop <2>, and many neighborhoods across the U.S. are filled with foreclosed homes <3>.

What exactly has the administration done in the face of such historic need? We've put together a guide to the administration's major efforts to help homeowners, laying out the promise of each and how they've actually performed.


It's a sobering list. Obama himself has called his approach to the foreclosure crisis one of his biggest mistakes <4> dealing with the recession. Overall, the foreclosure programs have failed to reach more than a fraction of the homeowners they were designed to help.

Here are the depressing details:

More at the link --