Housing advocates critical of Obama's loan modification program

Thu, 07/23/2009 - 13:25
  • Length: 4:35 minutes (4.2 MB)
  • Format: MP3 Mono 44kHz 128Kbps (CBR)

Earlier this year, the Obama administration announced a new aspect of the Making Home Affordable program. It was a loan modification program intended to reduce monthly mortgage payments for homeowners slipping towards foreclosure. But the program´s not working according to lawyers and consumer protection experts who testified before lawmakers on Capitol Hill.  Housing advocates say a better solution is for primary home mortgages to be modified in bankruptcy court. FSRN´s Karen Miller has more.

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