Federal auditor: Obama’s anti-foreclosure effort is a failure

Ask yourself, who benefited from Obama’s anti-foreclosure programs? Why it was the banks, of course.

“Others, who may have somehow found ways to continue to make their mortgage payments, have been drawn into failed trial modifications that have left them with more principal outstanding on their loans, less home equity (or a position further ‘underwater’), and worse credit scores.

“Perhaps worst of all,” it continues, “even in circumstances where they never missed a payment, they may face back payments, penalties, and even late fees that suddenly become due on their ‘modified’ mortgages and that they are unable to pay, thus resulting in the very loss of their homes that HAMP is meant to prevent.”

The banks profited, Obama happily allowed this to happen, and homeowners got screwed.

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