Another Failed Housing Program

Here is an article talking about another housing program that has fallen short of its goal. The Obama administration expects to spend only about half the $1 billion set aside for the new Emergency Homeowner's Loan Program. This program is designed to help homeowners who have lost their jobs get back on their feet with short-term loans. 100,000 people have applied for the program and 15,000 people are expected to qualify short of the original goal of 30,000 people.

Foreclosure Prevention Effort Ending With Roughly $500 Million Unspent