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 [...]

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Cases where lenders continues with foreclosure proceedings despite homeowners remaining under evaluation will be banned under new rules being reviewed by the Obama administration.
The changes reflect the continuing pressure that the administration is feeling to keep the HAMP program on track in the face of growing complaints that the bureaucracy and back-stabbing at the heart [...]

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On the surface, the latest Treasury department figures are encouraging. 1 in 5 homeowners have received what the department deems “long-lasting relief” as a result of the President’s foreclosure-prevention initiative.
What’s more, that figure has been on the rise in recent months.
But dig deeper, and there are some worrying trends. The number of new homeowners securing [...]

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