New Orleans President Obama, Secretary Geithner, and the rest of the hapless pickup crew that flubs around in the housing and foreclosure crises came together to “repurpose” yet more of the TARP money that was set aside for home mortgage modifications that might prevent foreclosures and threw $15 billion of the total at some homeowners …
Category: Advocates and Actions
Modifications Lost in Incompetence
New Orleans Tomorrow in Phoenix Advocates & Actions will release a report called “Modification Mysteries: Playing Foreclosure Roulette with the Banks.” The report will not only document the huge ineptness of the Treasury Department and the banks in handling foreclosure modifications (as I discussed last week less than $250 million has been spent of the …
No Relief for Foreclosure Victims
Portland Are you kidding me? What does it take for the Treasury Department to make the foreclosure modification program to work? Well, they have to actually run the program and supervise the banks, rather than let the foxes run and guard the hen house. Seems the inspector general for TARP – the bailout program – …