Skip to comments.IG Report: Obama Homeowner Bailout Program a Bust
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 ...
The list, ping
What a surprise.
Yet another EPIC FAIL by the Barry ZERO clown-show
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?
Obama is a bust...
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...
I guess this IG will have to be removed because he’s confused, too.
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.
Was it a bust for Obamao buddies who got the money?
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.