12/11/2009

A U.S. Treasury report documenting the slow pace at which struggling homeowners are getting help suggests the Obama administration might fall short of its goal to get a permanent loan modification for 375,000 families by the end of the year. Among homeowners in the program, only about 4% have successfully completed the trial period that leads to a permanent modification. Since the program was announced in March, 31,382 homeowners have been granted a permanent modification, the Treasury said.

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