In the midst of the administration’s announcement that there will be a mandate to additional changes through its Making Home Affordable program, which aimed the improvement in its pace and overall effectiveness, it puts up with asking the question whether the program’s ineffectiveness to date is a result of factors now hugely beyond the control of the leader and servicers charged with the implementation of the program itself.

The only thing that is certain is the increasing number in unemployment and is expected to continue rising until the mid-2010. It is cautious to expect that the impacts of any loan modification program will be at best unpretentious. The administration must now come to grasps with the reality that perhaps the greatest housing crisis in this nation’s history.

The monthly payment on a mortgage - even with an interest rate of 0% - is too high when the primary earners in that household are unemployed or seriously underemployed.