From Fresno Bee Article – 2-05-2010
The head of a key Valley housing counseling agency has resigned, saying he lost faith in the Obama administration’s loan-modification program.
Randall Guerra, a veteran of the housing industry, was executive director of the Community Housing Council in Fresno, which uses the federal Making Home Affordable program to try to help struggling homeowners avoid foreclosure.
But “Making Home Affordable is not working,” said Guerra, who quit Jan. 29 after 18 months on the job. “I had a lot of hope and expectations that it would deliver, but it didn’t deliver anything but more bad news.”
Guerra’s sudden resignation illustrates growing frustration nationwide over a program that was supposed to help homeowners facing foreclosure amid falling property values.
The federal loan-modification program “ends up being good press, but it didn’t work out as it was initially supposed to,” said Bob Voss, president of the council’s board of directors. “People come back to us and say we didn’t do anything for them.”