ITS TOTALLY OBVIOUS but NO ONE SEEMS TO SEE IT.

 In an article from the

The Wall Street Journal
By Darrell Issa and Jim Jordan

Titiled WHAT THEY'RE SAYING

http://www.gop.gov/wtas/10/08/25/wsj-cleaning-up-the-mortgage#share

The writers say:

"OBAMAS PROGRAM TO HELP HOMEOWERS HAS  UNFORTUNATELY MADE THINGS WORSE."

Why isn't anyone saying why things got worse?  Its not because of the program!  Its because the BANKS REFUSED TO COMPLY WITH THE PROGRAM. 

Then later in the article he says that loans that were modified are in default again.  Again, WHY?  Because instead of modifying the loans to 31% of the borrowers income as the guidelines suggest, the banks modified the FEW PERMANENT LOANS THEY DID to 63.5% of the borrowers income.

Isn't the answer clearly obvious?  If you are spending 63% of your income on your mortgage you can't afford to eat!

FORCE THE BANKS TO MODIFY THE LOANS TO 31% OF THE BORROWERS INCOME.  The borrowers would stop defaulting, the foreclosure crisis would come to a screeching halt, and the banks would have to spend the Tarp money on these modifications , not the CEO, and top executive bonuses. 

CRISIS OVER.

Sometimes the obvious is staring people right in the face.