Quelle Surprise! Bush Homeowner Rescue Program Falls Short of Low Expectatios

''Last year, we were less than impressed with Bush's tightly bounded but widely touted plan to use the FHA, a traditional source of financing to low and middle income borrowers, to help salvage homeowners at risk of begin dispossessed. Note we have doubts about "rescue debtor" operations. Iin many cases, these borrowers had little to no equity in their home, which begs the question of why it is so awful for them to lose their home. Indignity, yes, tragedy, no.''