500k Homeowners Choose Loan Modification To Ward Off Foreclosure…
The Obama administration announced earlier this month that it had achieved its goal of helping 500,000 troubled homeowners with trial loan modifications under its Making Home Affordable Program, part of a nationwide effort to stem foreclosures. The report came as a number of senior House representatives announced that they were backing the $8,000 tax credit for first-time home buyers, strengthening claims that federal support is still essential to reviving the real estate market. The number of people joining the loan modification effort is rising faster than that of new foreclosure starts, according to Treasury Secretary Timothy Geithner. However, he added, the number of at-risk homeowners is still “unacceptably large.” The Making Ho …
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500k Homeowners Choose Loan Modification To Ward Off Foreclosure…