Mortgage Modification Programs News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 economy. we don't see many jobs and that puts financial stress on people to pay the mortgages on final. ...

Home buyers, fannie and freddy, fha guarantee, the mortgage modification program, this cost $500 billion, these programs, and they don't look like they've 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 while it was in effect but the beginning of this year, it went out, the credit was gone and all of...

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 shooting 25 feet into the air causing big problems because the water is quickly freezing. it's cold on ...

Foreclosures rise again this past year. they rise even higher than the year before. that's not what we want to hear. good morning, everybody, i'm bill hemmer. martha's on vacation with the family. good morning to you, heather. nice to see you. >> thank you very much. i'm 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? >> it's odd, we talk about all these or imagine modify -- mortgage modification programs that these banks have put into p...

In housing value since the peak. >> greta: people won't buy a house if they can't meet the mortgage name's why it is a bigger problem. >> let me interrupt because it is important. we've had all these mortgage modification programs from the bish and obama administration. -- from the bush and obama administration. if people don't have jobs or their incomes aren't 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 blah, blah, blah. the thing that enraged me is they won't talk to each other. it is safe to s...