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IG Report: Obama Homeowner Bailout Program a Bust
human events ^ | 4/21/10 | Connie Hair

Posted on 04/21/2010 8:21:39 AM PDT by Nachum

A new report released yesterday (.pdf) by Neil Barofsky, special inspector general for the Troubled Asset Relief Program (TARP) warns that Obama administration efforts to bailout homeowners through the Home Affordable Modification Program (HAMP) are ineffective and will not stem the sweeping tide of foreclosures.

The $75 billion HAMP program was created with a promise to bailout 3 to 4 million homeowners in foreclosure, paying lenders to modify troubled mortgages. Foreclosures reached 2.8 million in 2009 and are on track to exceed that total with over 932,000 foreclosures filed in the first three months of 2010, the report found.

(Excerpt) Read more at humanevents.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: homeowner; ig; obama; report

1 posted on 04/21/2010 8:21:40 AM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping


2 posted on 04/21/2010 8:22:04 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Duhhhh!


3 posted on 04/21/2010 8:24:16 AM PDT by acoulterfan
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To: Nachum

What a surprise.


4 posted on 04/21/2010 8:26:09 AM PDT by hsalaw
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To: Nachum

Yet another EPIC FAIL by the Barry ZERO clown-show


5 posted on 04/21/2010 8:27:22 AM PDT by roaddog727 (It's the Constitution, Stupid!)
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To: hsalaw

Actually, the nice part is that this conclusion is being drawn so promptly, just when new proposals are coming up and can perhaps be throttled by the bad news that the ones trying to sell all this snake oil have been caught in the earlier fraud.

Of course, if the MSM doesn’t report it, did it actually happen?


6 posted on 04/21/2010 8:29:21 AM PDT by BelegStrongbow (Dear Leader: you have two ears and one mouth. Start using them in proportion.)
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To: Nachum

Obama is a bust...


7 posted on 04/21/2010 8:29:49 AM PDT by NMEwithin
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To: Nachum

Where’s the money?
Was this just another ‘patronage package’ used to reward Dem supporters? Somebody got paid alot of money to process the applications...


8 posted on 04/21/2010 8:30:17 AM PDT by griswold3
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To: Nachum
One has to meet the Minority criteria to qualify as this program as is most of the federal Government run by these unwritten rules and people.
9 posted on 04/21/2010 8:37:01 AM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Nachum

I guess this IG will have to be removed because he’s confused, too.


10 posted on 04/21/2010 8:39:56 AM PDT by Pearls Before Swine
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To: Nachum

I guess that gal in Georgia was wrong. She IS going to have to worry about making her house payment and how she’s going to fill her gas tank.


11 posted on 04/21/2010 9:07:44 AM PDT by Terry Mross (Founding Fathers.....grave....rolling over.)
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To: Nachum

Was it a bust for Obamao buddies who got the money?


12 posted on 04/21/2010 9:23:16 AM PDT by pallis
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To: All

Check out the home foreclosures in your very own Home Town. There are 37 in ‘The People’s Republik of Madistan’ from this ONE broker, alone.

http://www.foreclosureconnections.com/listhome.php


13 posted on 04/21/2010 4:39:40 PM PDT by Diana in Wisconsin (Save the Earth. It's the only planet with Chocolate.)
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