Obama broke a promise to “help the millions of homeowners who are facing foreclosure.”

Claim:  Obama broke a promise to “help the millions of homeowners who are facing foreclosure.”

Ad(s):  Obama’s Promise (60 sec)

Sponsor(s):  Crossroads GPS

Air Dates: May 17 – Jun. 12, 2012

Total Estimated Spending On This Claim:  $378,981 ($1,136,943Total)

Markets: Burlington, Cedar Rapids, Charlotte, Charlotesville, Cleveland, Colorado Springs, Columbus (OH), Davenport, Dayton, Erie, Flint, Ft. Meyers, Grand Junction, Grand Rapids, Greensboro, Greenville (NC), Greenville (SC), Harrisburg, Jacksonville, Johnstown, Lansing, Las Vegas, Manchester (NH), Mobile, Norfolk, Omaha, Orlando, Pittsburgh, Portlant (ME), Raleigh, Richmond, Roanoke, Sioux City, Tampa, Toledo, Traverse City, Washington D.C., West Palm Beach, Wilmington, Youngstown, Tri-Cities

FactCheck’s Summary: …[t]here’s no question that the administration’s efforts to help distressed homeowners were disappointing, at least at first. The ad cites on screen a  New York Times  story  that led with this sentence:

New York Times, Jan. 1, 2010:  The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.

But matters have improved since that story from more than two years ago. In a  rebuttal video, Obama’s deputy campaign manager, Stephanie Cutter, says it’s “flat out wrong” that Obama “has not helped people who faced foreclosure.” Because of Obama’s policies, she says, “over 5.9 million homeowners were able to modify their mortgages, avoid foreclosure and stay in their homes.”  And that’s backed up by a May 4  report  from the U.S. Department of Housing and Urban Development. According to the report, “More than 5.9 million modification arrangements were started between April 2009 and the end of March 2012 – including more than 1.8 million Home Affordable Modification Program (HAMP) trial modification starts and more than 1.3 million FHA loss mitigation and early delinquency interventions.” Click here to read more

FlackCheck.org’s related video(s): Crossroads GPS Smashes Facts and iPad