Calls widen for broader foreclosure solutions

Government program to help borrowers hasn't slowed home losses


Launched by the White House in October to head off a rising tide of home foreclosures, the Hope Now Alliance said this week that it has helped over a million troubled borrowers trying to keep their homes. But critics of the program say it’s not clear how many of those homes will be saved over the long run.
Now, with foreclosures still rising, calls for a broader government and industry response are coming from community groups, consumer advocates, members of Congress and, most recently, Federal Reserve Chairman Ben Bernanke.
“It’s mostly a lot of hope and unfortunately not a lot of accomplishment at the moment,” said John Taylor, CEO of the National Community Reinvestment Coalition, which works with community groups to help homeowners. “I think there’s a great deal of exaggeration about what the impact has been. The real measure is: How are the foreclosure rates doing? The truth is the foreclosure numbers continue to rise.”

http://www.msnbc.msn.com/id/23489087/

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IMHO, hope is all they should get. Maybe that explains the magnetism to Obama!