Mortgage modification plan helps few borrowers

Mortgage modification plan helps few borrowers
New York (CNNMoney.com) – More troubled homeowners have fallen out of trial mortgage modifications than have received long-term help, a new government report shows. But nearly half of these borrowers received alternate help, while only 7% have fallen into foreclosure. The administration’s signature housing-rescue plan, Home Affordable Modification Program, saw a surge of people leave [...]
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U.K. Mortgage Approvals Rise in May as BOE Holds Bond Stimulus in Place
U.K. mortgage approvals rose in May as the Bank of England kept its 200 billion-pound (7 billion) bond stimulus in place to help stoke lending in the economy, preliminary data from the bank showed.
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