Watchdog: Obama Foreclosure Plan Leaves Many Out

April 14, 2010  |  

(Yahoo/AP) — A watchdog panel overseeing the financial bailouts says the Obama administration’s flagship mortgage aid program lags well behind the foreclosure crisis and leaves too many families out.
Play VideoABC News – Mortgage Free in 5-7 Years?

The Congressional Oversight Panel says in a report released Wednesday that the administration projects only one million families will end up with lower monthly payments as a result of the program. The report says six million families are more than two months behind with their payments, and 200,000 more families receive foreclosure notices each month.

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