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Tags: US | Mortgage | Aid

Obama Mortgage Plan Aids 12 Percent of Borrowers

Wednesday, 17 February 2010 03:42 PM

The government's mortgage relief plan has helped about 12 percent of borrowers who signed up since President Barack Obama announced the program a year ago.

The Treasury Department says that as of last month, about 116,000 homeowners had completed the application process and had their loan payments reduced permanently. That compares with more than 1 million homeowners who started the process.

More than 61,000 homeowners have dropped out so far, either because they failed to make payments or didn't return the necessary paperwork.

Treasury officials say they are working with the mortgage industry to speed up the approval process.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
The government's mortgage relief plan has helped about 12 percent of borrowers who signed up since President Barack Obama announced the program a year ago.The Treasury Department says that as of last month, about 116,000 homeowners had completed the application process and...
US,Mortgage,Aid
99
2010-42-17
Wednesday, 17 February 2010 03:42 PM
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