The House of Representatives voted 218 to 109 yesterday to end one of President Obama’s signature economic plans, the Home Affordable Modification Program. The program was expected to help more than 4 million homeowners keep their homes, instead of the underwhelming 600,000 it managed to help – rendering it a flop. Meanwhile, the housing market remains in trouble, with sales and prices continuing to fall. Louise Story, Wall Street and finance reporter for The New York Times, has the latest on HAMP, and why housing is having an incredibly difficult time getting out of the dumps.
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