Reducing Uncertainty
Posted on Created: Tuesday, 18 May 2010 12:02
Obama’s plan to help lower mortgage payments is still a mystery. It has been just more than a year since Obama’s programs were created to help get Americans out of their funk, but the jury is still out as to whether or not these programs have actually helped Americans. On the one hand, about 25 percent of those who have applied for help have received it. On the other hand, another 25 percent of those who applied for the programs have dropped out of the program during the trial phase. The remaining half of Americans who have applied for help are stuck in limbo somewhere. The process involved in the programs has been criticized for not being quick enough. Many homeowners feel as if the mortgage companies simply want them to run around in circles until they get too frustrated to continue. Experts say that this practice has to stop. Mortgage companies need to expedite the program so that a quarter of applicants will not drop out during the trial phase. Another issue is the theo ...