fail to see the failure for what it really is...
or not hear the fat lady singing.
They told U.S. that they would address/solve the mortgage crisis.
They did not, they are not, they will not.
They asked U.S. to apply for help..., and many of U.S. did.
The big banks record is less than 25% of those who applied were even offered a trial modification. They never intended to make them.
Completed foreclosures soared to 93,800 in May, up from 65,000 a year earlier
while delinquency rates for borrowers with the best credit history jumped a full point to 5.9% in the first quarter.
Borrowers who owe more than their house is worth rose to 11.3 million in the first quarter, up from 10.2 million a year earlier.
What this will mean is another massive flood of foreclosures.
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Government Still Struggling With Mortgage Modifications
http://www.theatlantic.com/business/archive/2010/06/government-still-struggling-with-mortgage-modifications/58461/
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Borrowers exit troubled Obama mortgage program
http://www.google.com/
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Five Times As Many Homeowners Bounced
From Obama Plan To Slow Foreclosures
As Granted New Relief
http://www.huffingtonpost.com/2010/06/21/hamp-homeowners-foreclosures-relief_n_619356.html
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Troubled borrowers get help
outside Obama mortgage plan
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