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Total moved out of big banks $939107
Loan modifications happening at a dismal rate << 10% !!
Posted by admin on Aug 4, 2009
'JPMorgan Chase is helping one in five troubled homeowners eligible for a government-sponsored housing rescue, while Wells Fargo is reaching 6% of eligible borrowers, and Bank of America is aiding 4%, the U.S. Treasury Department said Tuesday In its first monthly progress report on the $50 billion loan modification program launched in March.
Several loan servicing companies — including American Home Mortgage Servicing and PNC Financial Services Group— have yet to modify a single loan.'
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