loan modification foreclosures: Only about 4% get long-term mortgage help
- 12/10/09 07:25 AM
Servicers provide permanent modifications to 31,382 troubled borrowers, according to first report issued by Treasury Department. An equal number have been denied. NEW YORK (CNNMoney.com) -- Only about 4% of troubled borrowers have received long-term help under the Obama administration's foreclosure prevention program, Treasury officials said Thursday. A nearly equal number of trial modifications have been denied permanent assistance, the report showed. The reasons include not making monthly payments on time, not submitting all the necessary paperwork, or not qualifying for reasons such as insufficient income. The report, the first comprehensive tally of permanent modifications made, shows that loan servicers have … (0 comments)
Servicers provide permanent modifications to 31,382 troubled borrowers, according to first report issued by Treasury Department. An equal number have been denied.
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