The government's loan modifications program which was sold as a program that will help more than 5 million is still failing to live up to they hype. The program has only helped provide 421,804 home owners with loan modifications since it began. Which is great, until you know how much it has costed tax payers in America.
The government has spent over $75 billion to help over 400,000 home owners with loan modifications. If you do the math, each modification comes with a price tag over $177,000. While this number has come down slightly from when I first reported this "bank bailout," it's still obvious this was a horrible thought out program or well though out bank bail out.
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