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Released: August 21, 2010
US mortgage relief effort falling short
Source: David Streitfeld, New York Times (Free Registration)
The Obama administration’s mortgage relief program, originally intended to shield three million households from foreclosure, now looks as if it will permanently help as few as one-sixth of that number.
While millions say they need help avoiding foreclosure and many struggling households applied, data released Friday showed the dropout rate from the Making Home Affordable Program was very high: 96,000 trial modifications were canceled by lenders in July. The number of canceled trials now exceeds 616,000.
Read Full Article: US mortgage relief effort falling short
Tags/Keywords
housing, mortgages, headlines, mortgage modifications, housing reform
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