The Obama administration is working to make trial home modifications a permanent transaction rather than temporary.  There has been a lot of talk and ridicule recently of how the banks have handled modifications thus far. In an LA Times article, Assistant Treasury Secretary Michael Barr said, “In our judgment, servicers to date have not done a good enough job in bringing people a permanent modification solution.”

According to reports, about 375,000 of the trial modifications are eligible to be made permanent by the end of the year. The government is pushing for these people to receive the attention they deserve.

This entry was posted on Tuesday, December 8th, 2009 at 2:53 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.