Statistics are showing a poor turn out for the goverments, "Making Home Affordable Program." Less than 25% of potential homeowners are actually taking advantage of the program. According to a Wall Street Journal article, "Just 12% of eligible borrowers have started trial loan modifications under the Obama administration's $75 billion mortgage foreclosure prevention plan, according to a Treasury report released Wednesday."
Maybe the winter will bring more borrowers to the table. The program offers home owners two options; either modification or refinancing. For more information go to: http://www.portlandforeclosure.com/makinghomeaffordable.htm
Photo used under the creative commons license at Wikipedia.
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