Rating Obama's response to the foreclosure crisis

By Molly Moorhead
Published on Monday, May 28th, 2012 at 12:21 p.m.

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Says Obama broke his promise to help homeowners facing foreclosure.

Crossroads GPS, Wednesday, May 16th, 2012.

Ruling: Mostly True | Details

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An ad from Crossroads GPS attacks President Barack Obama.

As the economic collapse began to threaten homeowners, presidential candidate Barack Obama vowed to come to their aid.

"We must help the millions of homeowners facing foreclosure," he said on the campaign trail in June 2008. His plan called for changes in bankruptcy laws, a crackdown on predatory and fraudulent lenders and a $10 billion fund to help homeowners avoid foreclosure.

With Obama seeking re-election in 2012, his record on the foreclosure crisis is under attack. The Republican group Crossroads GPS said in a recent television ad that Obama broke his promise to help struggling homeowners. The ad shows Obama saying he would help them and then stamps "BROKEN" on the screen.

PolitiFact examined the Crossroads claim and found that, indeed, Obama has had limited success with his plans to ease the mortgage crisis.

Read our full report here.