Savings Average $550 per Month
OBAMA ADMINISTRATION RELEASES NEW DATA
Homeowners in modifications are saving an average of over $550 per month.
As of December 10th, 728,000 modifications are under way across the country, the program is on track to meet its goals over the next several years. Modifications are providing real benefits to homeowners.
“As this report illustrates, struggling homeowners across the country continue to receive immediate relief in the form of reduced monthly payments and a second chance to stay in their homes,” said Chief of Treasury’s Homeownership Preservation Office (HPO) Phyllis Caldwell. “Our focus now is on working with servicers, borrowers and organizations to get as many of those eligible homeowners as possible into permanent modifications.”
Article experts were taken from http://makinghomeaffordable.gov/pr_12102009.html
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