Obama's Mortgage Aid Program
A San Jose bankruptcy lawyer summarizes a recent article regarding Obama's mortgage aid program...
Per an msnbc article last week, according to a report released Wednesday, April 14, 2010 by the Congressional Oversight Panel, the administration predicts a low 1 million families will end up with lower monthly payments as a result of the Obama administration's flagship mortgage aid program. The report further stated that 6 million families are more than two months in arrears with their mortgage payments. In addition, a quote of 200,000 more families are handed foreclosure notices each month.
As a result, it is said that the program leaves too many families out.
Elizabeth Warren, in charge of the Congress-selected independent panel said, "Treasury is still fighting to get its foreclosure programs off the ground." Washington.
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