“This is a problem of mammoth proportions,” Goodman said. “You can’t throw 12 million people out of their homes, so you need a successful modification program. My fear is that this isn’t it, but I’m highly confident that the administration will continue to iterate until they succeed.”
They're floating a proposal to force HAMP review before foreclosure, but HAMP just isn't designed to help that many people. It will mostly just slow down the process a bit, which might be good for some but for others it just squeezes a few more pennies out of them while giving them false hope.