Tags: Mortgage Aid

More People Fell Out of Obama Mortgage Aid Program

Wednesday, 22 Dec 2010 11:10 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

WASHINGTON — The number of people falling out of the Obama administration's main foreclosure relief program grew in November, as more at-risk homeowners failed to lock in lower monthly payments.

About 774,000 homeowners had dropped out as of last month, the Treasury department says. That's about 54 percent of the more than 1.4 million people who applied. And it's up from October, when about 756,000 had fallen out.

The program is intended to help those at risk of foreclosure by lowering their monthly payments. Borrowers start with lower payments on a trial basis. The program has struggled to convert them into permanent loan modifications.

Another 505,000 homeowners have secured lower payments permanently. That's about 35 percent of the number who enrolled on a trial basis, the same as October's reading.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Former Member: Oklahoma Mosque Taught Radical Islam

Wednesday, 01 Oct 2014 22:43 PM

A former member of an Oklahoma mosque attended by the suspect in a recent beheading said members and leaders taught radi . . .

Rand Paul: 'I Am Not Opposed to Birth Control'

Wednesday, 01 Oct 2014 11:30 AM

Sen. Rand Paul, R-Ky., widely believed to be seeking the Republican nomination for president in 2016, cautiously tiptoed . . .

Dick Morris: Obama Went Out of Way to Miss Intelligence Briefings

Wednesday, 01 Oct 2014 11:15 AM

President Barack Obama has missed 58 percent of the national security intelligence briefings during each of his terms in . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved