It appears a new Obama “Innovation Fund” program is setting aside $1.5 billion to help stop foreclosure in California and four other states hardest hit by foreclosure.

The word on the street is that this is likely to do little to nothing to help the actual homeowners. It will probably in reality just pay the administrative costs of running the program manned with people talking with homeowners about the same old tired stuff that does not really stop foreclosure and/or help one work things out with the lender.

There is expected to be only a small number of homeowners helped by the fund as with all of the other government bailouts of late. Big government is help by getting more people working for, and dependent on the government for their new job, bankers are bailed out and given bailout or admin money for which the bank is beholden to the government, but homeowners are left without much relief at all.

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