home: Is Mortgage Modification Program Effective?
- 02/19/10 01:21 AM
According to experts, a new rash of foreclosures will emerge this year due to prolonged unemployment which makes it difficult for millions of homeowners to pay their mortgages. In addition to that, a lot of them aren’t likely to obtain adequate help from a federal program which would help them at keeping their houses. Banks that are involved in the Home Affordable Mortgage Program admitted that they have been slow to turn temporarily reduced mortgage payments into permanent ones. The Obama administration officials admit that the $75-billion program, which offers banks cash incentives to reduce payments, has had troubles. The administration … (2 comments)
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