Latest loan modification report card
More U.S. homeowners are receiving mortgage modifications, according to the latest report card on the program from the federal goverment.
The number of permanent modifications climbed to 170,000 in February from 116,000 in January, according to the U.S. Treasury Dept.
There’s been criticism from housing advocates that many three-month trial modifications started by lenders have not been made permanent. It’s clear from February’s increase, Treasury was not pleased with the results and are pushing lenders harder.
Treasury reports another 91,800 permanent modifications have been approved by servicers and are pending borrower acceptance.
An addtional 72,000 new trial modifications were started in February.
The goverment is estimating these loan …
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