Every month the Department of Housing and Urban Development (HUD) and the Department of the Treasury release editions of the Obama administration’s Housing Scorecard, a report on the nation’s housing market. This month, just like every other, is full of information we already know.

For what seems like the bazillionth month straight, federal officials are warning us that the latest housing figures “underscore fragility in the housing market and highlight the importance of the administration’s foreclosure-prevention programs.”

Yes, we already know that the housing market isn’t in a great place. It hasn’t been in a while.

But what really gets me is the constant promotion of the federal government’s very flawed foreclosure-prevention programs, which, according to HUD, “continue to help tens of thousands of struggling homeowners each month and play a critical role in setting standards for the mortgage industry.”

I am missing something or have there not been countless reports on how these programs only lose most of its applicants in paperwork being filed by underqualified, undertrained and underpaid workers? What I would like to see on the next Housing Scorecard is how the Obama administration plans on making these programs actually work for its originally intended 3 million to 4 million struggling homeowners, not the tens of thousands it touts.

Obama Administration’s Housing Scorecard States The Obvious, Once Again

by Banker & Tradesman time to read: 1 min
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