FreeDIYkits Loan Modification Blog

The Obama plan includes tools to modify existing bad loans, reports Bill Plante, but economist Mark Zandi tells Harry Smith there may not be enough money to end foreclosures.

The Obama Administration is gearing up to play hardball with mortgage companies that only temporarily lower struggling homeowners’ monthly payments. But as the drive to make more loan modifications permanent kicks off, there’s a weightier question to ask: Can the government’s $50 billion foreclosure-prevention initiative deal with the crisis as it now exists?