Thanks, Cara, for the link to this article from the Washington Post:
"In the year since Maryland launched a series of foreclosure prevention programs, the state has helped just 88 troubled borrowers get into new loans or keep up with their payments, at a cost of about $17.9 million".Hmm -- the math on that is $203,409 per borrower. Except I am sure each homedebtor did not receive that much . . . but some bureaucrats stayed employed.
"State officials say their efforts have been hamstrung by borrowers who wait too long to ask for help or are disqualified by low credit scores. Negotiations with lenders to expand the programs have stalled. The 'big-picture lesson we have learned is that we can't refinance our way out of this problem,' said Raymond A. Skinner, secretary of Maryland's Department of Housing and Community development".Nope.