About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
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There was an interesting article in the New York Times on the slowish start the Obama’s new Home Affordable loan modification is off to. Here are some bits from that piece:

The Obama administration’s plan to help millions of troubled homeowners avoid foreclosure by reducing the size of their mortgage payments is just getting off the ground.

So far, two months after the program went into effect, about 55,000 homeowners have been extended loan modification offers, according to a senior administration official. At the same time, foreclosures continue apace. RealtyTrac reported Wednesday that foreclosure filings reached 342,000 last month, up 32 percent from April 2008. Moody’s has estimated that more than 2.1 million homeowners will lose their homes this year.

Comments (0) Posted by G.R.A. Admin on Thursday, May 14th, 2009


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