Sunday, March 29, 2009

We have no HOPE for Homeowners....

Remember the HOPE bill that passed last summer to protect homeowners from losing their homes through foreclosure?

Here's a small refresher: The bill was largely orchestrated by Sen. (D - Conn.) Chris Dodd with the intent to rescue many homeowners that were falling behind on payments by providing them the wherewithal to restructure and refinance their loans. Congress made $300 billion of taxpayers' money available to back these loans. The government estimated that the program would benefit as many as 400,000 families.

(Side Note in cased you missed it: Dodd is the same senator that mysteriously left out language preventing the government the ability to claw back the AIG bonuses and received a VIP loan from Countrywide via "Friends of Angelo").

Anyway, the tally is in. Drum roll please........

HOPE has officially prevented only ONE (1) foreclosure.

Nope, that's not a typo, only ONE.

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