The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.
Since President Obama announced the program nearly a year ago, it has lowered mortgage payments on a trial basis for hundreds of thousands of people but has largely failed to provide permanent relief.
Critics argue that the program has raised false hopes among people who cannot afford their homes.
What do you think? Should the government allow people who are in financial distress to modify their mortgages?