Just because massive Ponzi schemes and staggering unemployment figures temporarily took the spotlight this month doesn't mean the foreclosure crisis has gone away. According to a federal report, some 55% of loans modified to prevent foreclosure in the first quarter of 2008 were delinquent for 30 days or longer after six months. The numbers are a sobering indicator that efforts to keep people from losing their homes are still failing to produce the desired results.
Read it at Bloomberg
