Watchdog: Obama Foreclosure Plan Leaves Many Out
(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.
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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.