After a year, federal loan modification program misses many homeowners

Thu, 03/18/2010 - 13:02
  • Length: 4:49 minutes (4.42 MB)
  • Format: MP3 Mono 44kHz 128Kbps (CBR)

New figures on the numbers of homeowners who have avoided foreclosure with assistance from a federal program show that most are still not getting the help they need. The figures on the government’s mortgage modification program were released last Friday. While there was a slight increase in the number of modifications in February, only about 16 percent of the more than 1 million people who have signed up for the program have received permanent assistance. Housing advocates say that blame for the low numbers is with both the federal government and the banks. FSRN's Maeve Conran reports.

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