There's no other way to describe what Obama has wrought with his wrong headed, misguided policies for homeowners. It is an Epic Fail that has made the situation much worse and delayed the recovery in home values by artificially propping up mortgage holders who can't pay.This piece in the New York Times by David Streitfeld doesn't come out and say this, of course. But all you have to do is read what many homeowners have decided to do about their valueless homes; walk away leaving the bank - and the rest of us - holding the bag:After three years of plunging real estate values, after the bailouts of the bankers and the revival of their million-dollar bonuses, after the Obama administration's loan modification plan raised the expectations of many but satisfied only a few, a large group of distressed homeowners is wondering the same thing.New research suggests that when a home's value falls below 75 percent of the amount owed on the mortgage, the owner starts to think hard about walking...(Read Full Post)