The Obama administration made a huge deal about a foreclosure rescue/housing plan it announced earlier this year.

The plan was supposed to help homeowners with little or no equity in their homes refinance into loans with lower interest rates and also help some people who had fallen behind on their monthly mortgage payments modify their loans so they’re more affordable.

So how’s the plan working?

CNN asked homeowners who sought help and got a negative reaction.

Only one person really reported having success. Others described endless phone calls, unreturned messages and delays before getting the final message: denied.

Some who were current on their loans were told the priority was to work with people who have already fallen behind on payments.

Here in Massachusetts, the foreclosure picture is mixed.

A new report by The Warren Group shows that the number of actual foreclosures dropped in May.

Good news, yes, but the picture remains cloudy because lenders initiated more foreclosures.

Source: The Warren Group & CNN

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


Back Bay

Beacon Hill

Charles River Park


North End

South End

Seaport District

South Boston



Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



Call Now