Well, I guess “No Hope for Homeowners” would be the appropriate response to the program developed by the Bush Administration to help Americans facing the loss of their homes from rising monthly payments and declining values.
In a report by CNN, Brian Sullivan FHA spokesman stated: “As it stands now, we’ve only gotten 752 applications and only one insured loan!”
To give perspective, congress set aside $300,000,000,000 (Billion) to cover up to 400,000 families for this failed program.
- Where is this money going?
- Why not give a tax credit to the families it failed to help?
Below is a link to the article from “The Truth About Mortgage.com
http://www.thetruthaboutmortgage.com/hope-for-homeowners-program-has-helped-just-one-borrower/
Never a dull moment from our leaders in congress…always somehting to talk about.
Best,
Kris
