You’ve probably heard or read about the Obama Administration’s plan to help people avoid foreclosure. Have you wondered if it works? Do you know anyone who has benefitted from it? Here’s a recent article that discusses the current status of the program.
The Obama administration came out with a score card on its anti-foreclosure program last week, and there’s just one word for it: Minimal. Of roughly 1 million financially-distressed home owners who’ve been given mortgage payment reductions through three month “trials” under the HAMP program, that’s the Home Affordable Modification Program, just 116,000 have ended up with permanent loan modifications from participating lenders.
Click below for the full story.
http://realtytimes.com/rtpages/20100222_washingtonreport.htm
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