Slow Start For Federal Mortgage Programs

The Treasury Department said this week that Making Home Affordable servicers have extended 150,000 loan modification offers to distressed homeowners, and about 55,000 borrowers are already enrolled in the three-month modification trial. In addition, about 3,650 homeowners have refinanced their mortgages through the government-driven program, although the Treasury says tens of thousands of loans are still in process.

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