Obama plan was launched with great fanfare. Only 759,000 loans were modified and that too on a trial loan modification basis. During this long ordeal, the lenders had made various excuses to delay or postpone or lengthen the miseries of the homeowners. Now, only 37,000 homes have been permanently modified. Still long way to go. In fact, according to many studies it has perpetuated the homeowners miseries. The following is an interesting article taken from NY Times.