
According to a congressional hearing, the administration is falling short of its goal of preventing millions of Americans from losing their homes. Treasury officials acknowledge problems in the year-old mortgage modification program and announced its changes. Only 170,000 homeowners have completed the process to get their monthly payments reduced out of 1.1 million who began it over the past year.
The government’s latest effort to stem foreclosures would threaten more than roughly 8 million homeowners at risk of losing their homes in the next two years, according to John Taylor, president of the National Community Reinvestment Coalition. These additional 8 million…











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