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12-14-2009, 02:09 PM #1
Renter
- Join Date
- Dec 2009
- Posts
- 7
Foreclosure Rescue Still Bogged Down
Foreclosure Rescue Still Bogged Down
By RUTH SIMON
Fewer than 5% of borrowers participating in the Obama administration's foreclosure-prevention program, about 31,000 in all, have received permanent loan modifications, the Treasury Department said Thursday.
The new numbers were the latest sign of trouble in the $75 billion foreclosure-rescue plan launched in February. The program provides financial incentives for mortgage companies and investors to reduce loan payments to affordable levels for struggling borrowers. But it has proved difficult to move borrowers from a trial phase to permanent mortgage fixes.
A good article found on Wallstreet journal...check it out on my blog site at : niralisharma[dot]blogspot[dot]com
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12-14-2009, 04:01 PM #2
Fixer Upper
- Join Date
- Dec 2009
- Posts
- 30
yeah it seems pretty bleak. I have had the rare success with getting a few of my clients the hope for homeowners mod as well as myself. There are so many things people are missing in the execution of mods.
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