Hope for Homeowners

Some House members seek to resurrect a measure to allow bankruptcy judges to cramdown loan principals and terms that failed in the Senate this spring.

Among the many housing policy disappointments sustained during the bust, the Hope for Homeowners mortgage refinancing program has to rank as the disappointing-est. Originally estimated as having the potential to aid nearly half a million struggling borrowers, the program has resulted in just one successful loan refinancing to date. Quite the batting average. But the [...]

A plan designed to help 400,000 homeowners modify their mortgage terms has only helped 25 borrowers.