articles posted in the original thread, why not reply in the other thread?

http://www.democraticunderground.com/discu...


http://www.usnews.com/money/blogs/the-home...


"1. Obama rescue: The monthly foreclosure decline comes as the Obama administration ramps up its sweeping effort to get as many as 4 million struggling homeowners into more affordable mortgages

. On Tuesday, the Treasury Department said it had extended more than 650,000 trial loan modifications through October, putting it on track to meet its ambitious goals. However, mortgage modifications have a checkered history of success, and it remains unclear how many of these borrowers will simply fall behind on their new loans. The concern is that the program may be delaying foreclosures rather than preventing them. "Every loan servicer or lender I have spoken to in the last couple months has basically told me that they have had to slow down foreclosure initiations because they have had to re-evaluate their portfolio of loans to see which ones qualify for ," says Rick Sharga, RealtyTrac's vice president of marketing. "There are about 5.5 million delinquent loans. It just takes an awful lot of time to go through each loan individually..."


More Foreclosures to Come

http://www.nytimes.com/2009/11/12/opinion/...

"After a few months of some better than expected housing news, home prices are likely to fall again, driven lower by a renewed surge in foreclosures. By conservative estimates, another 2.4 million homes will be lost in 2010, while prices will fall another 10 percent or so. This should be a wake-up call for the Obama administration. Foreclosures are expected to surge, in part, because lenders have been delaying the process during the long rollout of the administration’s antiforeclosure plan. But according to Moody’s Economy.com, most troubled borrowers ultimately will not qualify for help, and a backlog of bad loans will soon enter foreclosure...

On Tuesday, the administration announced that through October, 650,994 loans had been modified under the Obama plan. But the administration did not specify how many of those were trial modifications — reduced-payment offers that will become permanent after up to five months of steady payments by the borrowers — and how many had already become permanent.

The administration expects to provide that information within the next two weeks. Until then, it will be impossible to know how many people have actually avoided foreclosure..."