Obama Administration, Making Home Affordable Program | featured news

Answers to Questions About New Mortgage Modification Program

Answers to Questions About New Mortgage Modification Program

Answers to questions about the Obama administration's new mortgage modification program.

 

Average Homeowner In Obama Foreclosure Program Underwater, Yet Principal Cuts Rare

Average Homeowner In Obama Foreclosure Program Underwater, Yet Principal Cuts Rare

The average homeowner in the Obama administration's signature foreclosure-prevention program owes more on their mortgage than the home is worth, yet the program does virtually nothing to address this problem, according to a scathing new report by a government watchdog.

 

Mortgage Principal Reduction: Why "Re-Equifying" Borrowers Could Exacerbate The Mortgage Mess

Many critics of the Obama administration's mortgage loan-modification program say it won't work because it doesn't do enough to address "negative equity," the plight of people who owe more on their home loans than the current value of those properties. Without equity in their homes, these critics say, borrowers have little incentive to keep paying and are apt to walk away as soon as things get tough, if not before.

 

Housing plan reaches 1 in 5 borrowers

After a slow start, the Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says.

 

Obama’s mortgage relief plan falling short

The Obama administration’s effort to help homeowners avoid foreclosure may not achieve its goal of helping 3 million to 4 million borrowers, a government watchdog group says.

 

Treasury Hails Milestone in Home Loan Modifications

Treasury Hails Milestone in Home Loan Modifications

Half a million troubled homeowners have seen their loan payments lowered under an Obama administration program.

 

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