Panel says anti-foreclosure program needs goals - KWWL - Eastern Iowa Breaking News, Weather, Closings

Panel says anti-foreclosure program needs goals


WASHINGTON (AP) -- A congressional watchdog says the Obama administration's central foreclosure prevention effort won't reach its original goals and that the government should come up with clear, measurable objectives for the two-year-old program.

Because the Treasury Department has failed to properly analyze the program it runs, it is nearly impossible for overseers and the public to determine whether it is a success, the Congressional Oversight Panel said in a report issued Tuesday. 

The report also claims that although the program has succeeded in preventing some foreclosures, in its current form, it will never have the reach necessary to put a significant dent into the foreclosure crisis.

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