Bankers still see climb in foreclosures

According to the San Francisco Business Journal, "Treasury officials say less than 10 percent of delinquent borrowers eligible for government help have received assistance. The government envisions helping 4 million U.S. home owners avoid foreclosure over the next three years at a cost to taxpayers of $75 billion to successfully modify mortgages through its Home Affordable Modification Program. So far, 235,000 have been helped."

According to the statistics provided in the article, very few home homeowners have been helped. Does that mean that the banks were given money to help out and they are not using it? Or does it mean that the bank receives funds after helping homeowners?

SF Biz Journal reports the banks as saying, "now say they’re making strenuous efforts to modify loans. But they’ve also lifted their self-imposed moratoriums on foreclosures."