In a statement made today Secretary of the Treasury Henry Paulson said:
The new FHASecure program has refinanced over 200,000 borrowers into affordable mortgages in the past eight months
As I understand the real numbers this is simply a lie. Apparently all but about 3000 of the 200,000 borrowers he is talking about were never late on their mortgages and got into FHA loans with no help from the FHASecure program at all (which is basically a loophole program to let people who missed mortgage payments after an ARM reset qualify for an FHA loan). I know Washington is all about Spin but this is blatant falsehood as far as I can tell.
If you are in trouble with your mortgage be sure to write to your Republican congressmen/senators today and insist they get on board with the Democrats to help you out. You can’t stop President Bush from vetoing a bill that will help you but enough pressure from his fellow Republicans goes a long way