Obama's Foreclosure Plan

Predatory lending entities, not black Americans worst hit by the housing crisis, have pocketed the lions share of stimulus money doled out so far.

That according to US REO and cited by an NAACP rep in a recent LA Times editorial. “The money should have gone to direct payments to homeowners, just like they did with the banks.”

Hard to argue with that logic (although US senators and even some authorized to dole out HAMP funds see it differently).

The nonprofit ProPublica has confirmed that only a tiny amount of the HAMP qualified mortgages have been given permanent status – and black Americans are underrepresented.