170,000 Foreclosures Averted by Obama Administration Fixes

170,000 Foreclosures Averted by Obama Administration Fixes

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foreclosure-home-boarded-up.jpgMore than 170,000 troubled homeowners are breathing a lasting sigh of relief now that they’ve received permanent modifications under the Obama administration’s foreclosure prevention program.

Another 835,000 people are currently in trial modifications, a review period during which banks check whether borrowers can make the reduced payments.

The number of people receiving permanent help has been steadily rising as the administration increases the pressure on mortgage servicers to make decisions on those in the trial phase.

(READ the story at CNN.money)

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