I HOPE that few readers at this site are betting on HOPE to help them. HOPE has a dismal track record! One borrower helped out of 752 applications.......lots of money floating around in HOPE, but very little positive results. Just like most government "projects".
"In the five months since it has been in effect, HOPE has helped exactly one homeowner to avoid foreclosure. This despite Congress having made $300 billion available to back these loans and estimating that the program would benefit as many as 400,000 families.
"As it stands now, we've only gotten 752 applications," said Federal Housing Authority spokesman Brian Sullivan. "And only insured one loan. Needless to say, the program isn't working terribly well."http://money.cnn.com/2009/03/25/real_estate/new_hope_plan/index.htm?postversion=2009032512