http://finance.yahoo.com/news/Treasury-says-millions-more-rb-1620457917.html?x=0&sec=topStories&pos=1&asset=&ccode=
"Six million more forclosures in the next three years" what are the odds that you, your friends and families won't be touched?
Meanwhile a system that was put into place to help fix it just can't get the job done.
Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration's housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.
A Treasury report showed 360,165 people had their monthly payments reduced through August, up from 235,247 through July, but a senior Treasury official conceded much more must be done to soften the impact of a severe and prolonged housing crisis.
"The recent crisis in the housing sector has devastated families and communities across the country and is at the center of our financial crisis and economic downturn," Michael Barr, assistant Treasury secretary for financial institutions, told a House Financial Services subcommittee.
Treasury has begun releasing monthly reports on the loan modification program, called
