Just in case you missed this article in The Hill, the headline will save you from any suspense: Banks to benefit most from White House program to help fight foreclosures.
Here’s the bad news:
“Banks will get the biggest benefit from an Obama administration housing program designed to help unemployed homeowners escape foreclosure.
Housing experts expressed concern that banks, not homeowners, will be helped by the White House’s $3 billion funding infusion — $2 billion from the Treasury Department and another $1 billion from the Housing and Urban Development Department — going to those states hit hardest by the housing market crash and unemployment.”
More Foreclosures, Please . . . (March 25th, 2010)
Treasury Looks to Mandate Foreclosure Abatements, Mortgage Mods (February 23rd, 2010)
Fannie And Freddie And the Backdoor Bank Bailout (May 12th, 2010)
GSEs: $1 Trillion Dumping Ground for Bad Bank Loans (June 14th, 2010)
Banks to benefit most from White House program to help fight foreclosures
The Hill 08/15/10