I'm sure some already predicted this outcome here in Speakeasy, but here's the confirmation. The failure is bigger than the enrollment?
A growing number of homeowners who sought help from the Obama administration's main mortgage aid program are in danger of losing their homes.
About 436,000 borrowers have dropped out of the $75 billion plan as of last month, the Treasury Department said Monday.
That's about 35 percent of the 1.24 million who enrolled since March 2009 and exceeds the number of homeowners who are getting help through the program. And nearly 155,000 of those who fell out of the program did so in the past month.
Experts say more borrowers are likely to drop out in the coming months. Some homeowners who owe more on their loans than their properties are worth are likely to conclude that paying an oversized mortgage simply isn't worth the cost.
Even after their loans are modified, many borrowers are simply stuck with too much debt -- from car loans to home equity loans to credit cards. (more in article)
Best Black Friday Deals
CNET editors are busy culling the list and highlighting what we think are the best deals out there this holiday season.