By JLP | June 30, 2009
Okay, I guess the optimistic way to state that would be to say that the mortgage payment reduction program has had a 75% success rate (still that’s a “C” if you were using a grading scale). There’s also no guarantee that more recipients won’t fall behind. I think we would have been better off to just let the market work this mess out and allowed those who couldn’t afford their homes to move on with their lives instead of dragging this mess out longer.
The good thing we can take from the article mentioned above is that the housing market appears to be stabilizing. Let’s just hope that unemployment doesn’t hinder a recovery.