Obama's Foreclosure Program Speeds Up Rescue Efforts -- Really!


More foreclosures are coming! That's the warning we've been getting for months from pundits and economists.

The primary culprit? Big government intervention, according to these commentators. Federal foreclosure programs have slowed the foreclosure process without necessarily stopping it. That's created a huge pileup of homes on the road to foreclosure that haven't gotten there yet.

"Loan modifications... may simply have delayed the inevitable," according to an analysis back in February from Standard & Poor's.

Well, put on your seat belts. For hundreds of thousands of borrowers who faced foreclosure, the delays are over.