Trial mortgage modifications offered to nearly 1 million

 

Source: Stephanie Armour, USA Today

Lenders in the government’s Making Home Affordable program have extended mortgage modifications to more than 650,000 delinquent borrowers since April — a fifth of those eligible, the government reported Tuesday.

The number of homeowners who have been offered trial loan modifications has more than doubled since August to 919,965, or 29% of those eligible, the Treasury Department said in its monthly progress report on the program. Homeowners receive modifications if they stay current on their loans for the three-month trial phase.

Read Full Article: Trial mortgage modifications offered to nearly 1 million

 

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