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Making Home Affordable

Published: 07/21/10

Mortgage Aid Program Not Working; Foreclosures Piling Up, Watchdogs Tell Senate

By  Tom Diemer - Politics Daily
Mortgage Aid Program Not Working; Foreclosures Piling Up, Watchdogs Tell Senate

A government program meant to help at-risk homeowners negotiate better monthly payment deals is not working and could even endanger the economic recovery as foreclosures pile up, federal watchdogs told a Senate panel Wednesday. Neil Barofsky, inspector general for the government's Troubled Asset Relief Program (TARP), said the mortgage aid program has not "put an appreciable dent in foreclosure filings," the Associated Press reported. Barofsky told the Senate Finance Committee the U.S. Treasury Department has ignored demands that clearer goals be set for the Making Home Affordable ...

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