NEWS

Thu, Nov 19

Obama mortgage rescue: Only a few get lasting help

© CNN 2009  

 

Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama's foreclosure prevention plan, raising concerns about the effectiveness of the $75 billion effort. 

Fewer than 5% of the trial modifications on loans owned or guaranteed by Freddie Mac were converted to long-term adjustments as of Sept. 30, according to the mortgage finance giant. Read more.

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