Let’s face it, the monthly payment on a mortgage - even with an interest rate of 0% - is too high when the primary earners in that household are unemployed or seriously underemployed.
Thus, while efforts to improve the performance of the Making Home Affordable program should continue and Treasury’s efforts in that regard are to be commended, the administrations’ efforts to stem foreclosures and solve the great housing crisis now must also attack the new root cause of the crisis, namely jobs, jobs, jobs. ...