You know you have a disaster of a program on your hands when things go far more poorly than even skeptics warned about. Such is the fate of the Hope For Homeowners program so far. To date the research shows that about 300 H4H loans have actually been applied for and 0 — yep, precisely zero — H4H loans have funded. That is a spectacular failure of a program. At this point the players involved in creating the program are mostly pointing fingers.
At least it gives the skeptics a moment to gloat. Witness this editorial piece over at the Washington Post.