U.S. House Republicans Move to End Foreclosure Aid Programs
”These programs may have been well-intentioned but they’re not working and, in reality, are making things worse.”
Palm Coast, FL – February 25, 2011
U.S. House Republicans plan to move forward with bills that would end anti-foreclosure programs put in place by the administration of President Barack Obama, saying they are doing more harm than good.
The House Financial Services Committee will consider bills next week to terminate four mortgage assistance programs, including the Treasury Department’s Home Affordable Modification Program, or HAMP.
“In an era of record-breaking deficits, it’s time to pull the plug on these programs that are actually doing more harm than good for struggling homeowners,” Representative Spencer Bachus of Alabama, the chairman of the panel, said today. “These programs may have been well-intentioned but they’re not working and, in reality, are making things worse.”
Full Story >>>> Bloomberg [Jan 24, 2011]
Homeowners Programs
I think this is great news, now all of the people who loose thier homes can go to Washington and squat in the Government house they have paid for with thier taxes for years. The Repbublicans and TEA Party are showing thier real facist colors by destroying every thing for the poor and low income people.Every thing for bigt business and the rich, nothing for anyone else.
This is the reason Flagler County is such dire shape, the wrong party has been running things for too long.
Now now, John Boy
The foreclosure reduction programs and the mortgage modification programs, and the foreclosure mediation programs have all been failures. These failures are well documented by both Propublica and the Huffington Post; nither of which are noted for leaning towards Republicans.