About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

It appears we are not out of the woods with the housing crisis just yet. The Treasury expects there to be millions more foreclosures coming in the coming months and years. Here is an excerpt from the recent Reuters story on the subject:

Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration’s housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.

A Treasury report showed 360,165 people had their monthly payments reduced through August, up from 235,247 through July, but a senior Treasury official conceded much more must be done to soften the impact of a severe and prolonged housing crisis.

Comments (0) Posted by G.R.A. Admin on Wednesday, September 9th, 2009


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