In October the bipartisan Congressional Oversight Panel issued a report evaluating the effectiveness of the administration's Making Home Affordable Program. The report highlights key issues stating that the program was not designed to address some of the most important factors that may drive foreclosures in coming months. These factors include scheduled resets on payment option adjustable rate mortgages and interest-only mortgages, and rising unemployment rates.

Current government programs to help homeowners keep their homes are inadequate to address a coming wave of foreclosures and will only delay foreclosure for many, according to a new report from the bipartisan Congressional Oversight Panel.


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http://www.mortgageloan.com/loan-mod-program-inadequate-report-says

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