Let me repeat myself at the risk of sounding crude, “I told you so.”
No Federal program is ever going to rescue the economy or people’s futures from their failed pasts. Never. It is inherently, sociologically impossible. This is just another failed social program created for one purpose only: to buy votes. Only this time it failed before the deal could be consummated.
U.S. Mortgage-Aid Program Is Shutting Down, With Up to $500 Million Unspent
“They dragged and dragged their feet,” Mr. Frank said in an interview. “I believe it was not one of their priorities.”
The combination of these rules, housing counselors said, disqualified a large number of people who had gone through their savings and fallen behind on mortgage payments. Nor have all of the applicants who met the qualifications been approved for the loan.