From Where Will Help Come for Homeowners ?

Yesterday's New York Times has an article "For the Jobless, Little U.S. Help on Foreclosure".

The article states or quotes those who suggest the following:

• That the present governmental housing efforts have been "plagued by delays, dubious benefits and abysmal participation."
• Data suggest that the task is only growing more difficult due to unemployment
• New job growth in May was weak
• A widely watched index found that housing price have dropped to their lowest level in almost a decade
• Foreclosures have slowed due to delays in processing, not a housing recovery
• The Treasury Department was given $46 billion to spend on helping homeowners, but has only spent about $2 billion
• Only 670,000 homeowners have received permanent modifications under HAMP program instead of the 3 to 4 million that were promised to be helped
• An official from the Boston Federal Reserve has called on the government to provide loans or grants to unemployed or underemployed homeowners
• The debate is playing out on the sidelines of partisan Washington politics
  

Jordan E. Bublick, Miami-Dade, Broward, and Palm Beach, Florida, Attorney at Law, Practice Limited to Bankruptcy Law, Member of the Florida Bar since 1983