Mortgage Relief For Retirees
Posted December 11, 2009
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Just over 31,000 homeowners have received permanent loan modifications since March under the Obama administration’s mortgage relief plan, spotlighting some of the program’s failures.
Among big lenders, Bank of America Corp. had the worst results. The nation’s largest lender had only completed 98 modifications for the 160,000 borrowers who had signed up by the end of November. GMAC Mortgage had the most of any lender, just 7,100.
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