.0000025 Success Rate

Last summer, Congress passed the Hope for Homeowners Act, setting aside $300 billion to help people refinance into more affordable mortgages. But the program has been a total flop.

When it was first introduced, the Congressional Budget Office estimated that the program could help 400,000 people keep their homes.

But more than six months after the program was launched, the Federal Housing Administration says only one homeowner has made it all the way through the government program and received the FHA guarantee.

Hope for Homeowners was sponsored by Rep. Barney Frank (D-MA)…

I suppose that is all one needs to know.  [NPR]

Sing-along: #you’re out of touch#


“It could be worse… they could be batting a negative average!”

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