Critics opposing President Barack Obama's foreclosure program should think of a better alternative and should support Obama's program if they can not suggest anything better. If Obama does not address the soaring number of lender foreclosure properties, in addition to tax foreclosure properties, the nation would be mired in a down housing market and would not recover.

A rant against Obama's program by a CNBC commentator has become popular on YouTube. The commentator claims that the program promotes bad behavior because it uses the money of responsible taxpayers to subsidize the loans of losers. His criticisms support the idea that troubled homeowners are responsible for correcting their mistakes, in the same way that people whose assets became tax foreclosure properties are responsible for correcting theirs.

But critics need to understand that the soaring number of lender foreclosure and tax foreclosure properties would continue to bring on more problems, such as depressed home prices, depressed property values, low tax revenues for basic services, community blight and rise in crime rate. They should look at the effects of the lack of more determined action from the Bush administration on the housing market and on the economy. Do the critics think that if President Obama does not do anything about lender foreclosures, the problem will go away? Do they think that inaction will miraculously improve economic conditions so that even the problem of tax foreclosure properties will go away?

Perhaps critics have not really studied Obama's foreclosure program. The program has provisions so that only responsible homeowners will be helped with taxpayer money. Housing Secretary Shaun Donovan said the program is targeting up to 9 million homeowners who can show that they can sustain payments once their monthly payments are reduced. Helping these millions would help eliminate conditions that lead to more lender foreclosure and tax foreclosure properties.

Another main point being opposed by the critics is Obama's proposal to give bankruptcy judges the authority to order banks to modify bankrupt homeowners' loans. The bankers claim that this proposal would make mortgages unattractive to investors and that lack of investors would increase mortgage rates, worsening the situation. Some could even question if the government has the same proposal for people who previously owned tax foreclosure properties.

The central feature of Obama's program is to use $75 billion to help mortgage lenders work out loan modifications for responsible troubled borrowers and to help homeowners keep up with monthly payments and save them from foreclosures.