http://www.reuters.com/article/idUSN1021463420091210
UPDATE 2-Few US mortgage modifications made permanent
Like any government program, the mortgage modification program is a smashing success if they manage to get money allotted to them and hire people to work on the program.
Actually doing any work at all is likely to cause bureaucratic infighting. After all, if the government employees are actually functioning and doing their job, the best they can ever hope for is to get terminated in a few years when there is no more work to do. So there is no reason to expect that the mortgage modification program will do anything more than keep more incompetents working for the government for an extended period of time.
Aren't you glad I explained how government bureaucracies work?
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