- The Washington Times - Tuesday, June 23, 2009


I read with disbelief your article “Geithner: Foreclosure relief still iffy” (Business, June 10). When the Make Home Affordable program was announced several months ago, with all the details of how it would be implemented and who would qualify, it sounded like the perfect program to get at the root of the pending depression. Millions of foreclosures would be prevented, and common citizens would be spared the pain and suffering of losing their homes. After all, wasn’t President Obama the champion of the little guy? Congress, meanwhile, went along appropriating funds from the Troubled Asset Relief Program supposedly to prevent foreclosures.

Treasury Secretary Timothy F. Geithner’s testimony confirmed what millions of desperate homeowners already know. The implementation of this program is in limbo, and we will not know until the fall if it is going to work. Whether it does or not, it may already be a classic example of “too little, too late.”

I personally know of several families who have applied for the program and are struggling to keep up with high adjustable-rate mortgage payments in the hope that it eventually will enable them to keep their homes. Others could not afford to wait and had to give up and foreclose. This translates into thousands of dollars lost for those who can least afford it.

Mr. Geithner and the administration should turn their attention away from the big banks and auto companies and make this program the priority it deserves to be. It is not too late to make sure it is remembered as a viable program instead of a cruel hoax.



Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide