TARP Mortgage program....success or failure?

It would be hard to imagine anyone arguing for TARP mortgage assistance programs qualifying as a success. The question is a valid one, and pointing out the misuse of staggering sums of money by the Obama Administration is among reasons anyone who's rational should be able to recognize the basis for complaints that the deceptive, if not altogether clueless, Chief Executive trying to institute misguided socialist policies of his mentors is in over his head.

In your multiple-choice question, D is a correct answer that is accurate and largely inarguable. Many who recognize what's taken place with the widespread misuse of TARP funds are likely to see B as another correct answer, though. Therefore, on behalf of the community, I'd like to suggest the missing response E for both answers B and D is what should be the most appropriate answer.

I've personally spent exhaustive hours trying to keep a town home from being foreclosed upon, and was told in an FHA based, government run small group seminar for a dozen homeowners that the town home and circumstances I made appearance for met qualifying requirements for assistance programs instituted under TARP mortgage assistance. Online research showed further detailed written requirements and descriptors for who was intended to be included for assistance, which also supported what I was told in the seminar about qualifying. The unfortunate caveat is that the lender must be participating in the program and willing to file whatever necessary paperwork would qualify an individual for TARP funds that might reach actual homeowners in need. Even if the lender is believed to be participating, resistance at the level of the loan servicer appears to be extreme with little, if any, intention of ever allowing the government approved, inexplicably generously spent funds from reaching an actual homeowner in need. The lending bank recognized as the mortgage note holder on our townhome is USAA Federal Savings Bank, and communication with high level officials within USAA makes it appear problems with PHH, who is the loan servicer, have been recognized and seen as having been mishandled, including a half dozen payments which weren't applied correctly. PHH, on the other hand, has shown remarkably dogged determination to avoid communication and pretend contact from this end has not taken place. Letters go ignored, repeated phone calls either go unanswered, or in the rare cases where communication has taken place by phone, during the next contact initiated by PHH, the pattern has been that they're insistent that the prior communication never took place. As my complaint has elevated internally within PHH, the extent of cooperation thus far has been limited to clear but distinct admission that "Obviously, we've made mistakes, but it looks like we've both made mistakes." Since USAA officials claim to have recognized the problems and mishandling by PHH, recourse and reasonable assistance seems to rely in this instance on how they resolve internal differences. Of course, the relationship between a sizable mortgage lender and their loan servicer seems likely to carry more weight than the relationship between the lending bank and an individual customer. The breakdown and abject failure of assistance programs intended to help homeowners appears to fall heavily on the shoulders of loan servicers who are the front line banking people assigned to deal directly with the borrowing public.

Unquestionably, the TARP mortgage assistance program has been a failure. I'm not so egocentric to believe that the personal circumstances described above are just a one in a million occurrence or approaching the odds of being struck by lightning. This is a shared misery brought about by failures that are identifiable and could be addressed by responsible, concerned leadership. Instead, what we have is leadership that favors actions such as those shown and unabashedly described by Shirley Sherrod before the NAACP, who together with her husband became the largest recipients of black farmers reparation payments in the country after proudly limiting assistance to whites based upon race. This Administration knows full well who they're willing to help and who there was never any intention to provide assistance for by virtue of characteristics minority leaders have been outspoken about in regard to policies they claimed were supposed to be fair for more than half a century. Does anyone really believe this Administration knows what it's doing or have any basis for thinking this President serves more than a few select minorities he regards as his consituent base?

No of path no longer. Obama is a lot under the classic benchmark for failure. If we used Obama because of the fact the hot popular, lots of the previous understand failures could could desire to be reassessed as valuable.

Your tax dollars ar work!