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April 15, 2010

Watchdog: Gov’t Program Failing to Rescue Struggling Homeowners
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The figures come as a government watchdog says the Obama
administration’s foreclosure prevention program is failing to help
millions of people in danger of losing their homes. The Congressional
Oversight Panel says the Making Home Affordable Program, HAMP, has
helped just one borrower for every ten that have lost their homes. Panel
chair Elizabeth Warren said, “’s response is lagging behind the pace of
the crisis. It also seems clear that [its] programs will not reach the
overwhelming majority of homeowners in trouble.” Warren’s report comes
as the US is seeing a record number of foreclosures.



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