Mortgage Modification Programs News Today

Part of that plan? could that have an effect? >> reporter: it could. we have had four or five mortgage modification programs, these were federal programs by the government, uncle sam paying tense of millions of dollars to reduce the mortgage payments. after six months, nine months a year, guess what the people just reee faulted on the loan. the big problem is two fold. the housing values continue to fall. the incentive to for close on the mortgage is much higher. the second is the louse key econ...

Home buyers, fannie and freddy, fha guarantee, the mortgage modification program, this cost $500 billion, these programs, and they dont look like theyve gotten us anywhere. >> they are probably more of a curse than a blessing if you look at all the programs. what we did was we prevented the housing market from hitting bottom. you have to bit the -- hit the bottom before you come out of it. we delayed that. a good example is the $8000 new home buyer tax credit, that helped kind of prop up market ...

About wikileaks founder julian assange. the door may be slamming on some help for homeowners. a vote is planned for today to end a package of white house mortgage modification programs. republicans say barely anyone is using those programs and eliminating them would save the country some money. the programs offer help by modifying mortgages for homeowners who are in trouble. democrats say killing the program will end up hurting the economy. new video in of a water main break in philly. water sho...

Foreclosures rise again this past year. they rise even higher than the year before. thats not what we want to hear. good morning, everybody, im bill hemmer. marthas on vacation with the family. good morning to you, heather. nice to see you. >> thank you very much. im heather childers, and another 1.2 million homes are in the process of foreclosure. bill: that jump pushed by thousands of homeowners pushed to the brink. why is this number not getting better, chris cotter? >> its odd, we talk about...

In housing value since the peak. >> greta: people wont buy a house if they cant meet the mortgage names why it is a bigger problem. >> let me interrupt because it is important. weve had all these mortgage modification programs from the bish and obama administration. -- from the bush and obama administration. if people dont have jobs or their incomes arent rising it is difficult. >> greta: i know the republicans say we have to extend all the tax cuts for everybody, the democrats say no, it is all...

In housing value since the peak. >> greta: people wont buy a house if they cant meet the mortgage names why it is a bigger problem. >> let me interrupt because it is important. weve had all these mortgage modification programs from the bish and obama administration. -- from the bush and obama administration. if people dont have jobs or their incomes arent rising it is difficult. >> greta: i know the republicans say we have to extend all the tax cuts for everybody, the democrats say no, it is all...

Enormous spending free we have seen under president obama. now, the question of course, how did the president come up with the numbers to suggest that he isnt the big spender and the truth is, what they do, i went through this study closely, they omitted a lot of what happened in 2009, president obamas first year in office. that was convenient because of course that is when we had the $80 billion surplus plan, and the auto bailout and when we had the mortgage modification programs and "cash for ...