Foreclosure: Feds' Prevention Plan Lags
The program uses TARP money to offer incentives to mortgage servicers to make loan modifications. The reasons for the failure to pay out more funds include that the program only pays out funds for completed modifications, not trials; and that homeowners receive loan reductions over a period of years, so many mods haven't been paid out in full yet.
For more on related topics see these AOL Real Estate guides.
- Stop Foreclosure Rescue Scammers Before They Scam You
- Foreclosure Help: What a Housing Counselor Can Do
- Mortgage Jargon in Simple Terms
- How to Buy Foreclosures
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