¶Congress set aside $50 billion for foreclosure prevention, amid administration projections that three million to four million homeowners would benefit from modifications. So far, the Treasury Department, which oversees the program, has spent slightly more than $1 billion, and just 607,000 homeowners have received permanent loan modifications (of those, 11 percent have defaulted).

Foreclosure Aid Fell Short, and Is Fading – NYTimes.com

Leave a comment

Your email address will not be published. Required fields are marked *