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When the Obama administration in March instituted programs to help homeowners modify. "It’s going to be a lingering problem." Falling home prices will be the mechanism that keeps the crisis going,

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CNBC. HAMP unlikely to help many homeowners, it would also prolong the foreclosure crisis and cost taxpayers a lot of money. The program, which was launched with the expectation of averting 3-4.

Throughout the foreclosure crisis, lawmakers and the administration have raised concerns that lenders are not doing enough to help families keep their homes. are meeting their targets and which are.

Top Treasury Official Backs Off Promise To Stem Foreclosure Crisis, Signature Initiative May Fall Short By Shahien Nasiripour A top Treasury Department official indicated Thursday that the Obama administration’s signature foreclosure-prevention initiative may not deliver on its promise to help three to four million troubled homeowners permanently reduce their monthly payments.

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