Obama Administration, Foreclosure Prevention Program | featured news

Average Homeowner In Obama Foreclosure Program Underwater, Yet Principal Cuts Rare

Average Homeowner In Obama Foreclosure Program Underwater, Yet Principal Cuts Rare

The average homeowner in the Obama administration's signature foreclosure-prevention program owes more on their mortgage than the home is worth, yet the program does virtually nothing to address this problem, according to a scathing new report by a government watchdog.

 

Obama’s mortgage relief plan falling short

The Obama administration’s effort to help homeowners avoid foreclosure may not achieve its goal of helping 3 million to 4 million borrowers, a government watchdog group says.

 

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