Slow Start to U.S. Plan for Modifying Mortgages

From the NY Times article:

 

So far, two months after the program went into effect, about 55,000 homeowners have been extended loan modification offers, according to a senior administration official. At the same time, foreclosures continue apace. RealtyTrac reported Wednesday that foreclosure filings reached 342,000 last month, up 32 percent from April 2008.Moody’s has estimated that more than 2.1 million homeowners will lose their homes this year.”

 

Administration plans aren’t working.  No news here, but I thought I’d post it for posterity.

 

(story at right).