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NY Times Reports a Rise in Defaults in Loan Modification Program

Despite receiving lower monthly payments through the government's loan modification program, the number of homeowners who have defaulting on their mortgages nearly doubled last month, according to data released by the Treasury and the Housing and Urban Development Department.  The program, which was started in the fall, was supposed to help as many as four million households, but has been widely criticized for not doing much help. 

The entire story is available to read on NYTimes.com.

Are you behind on your mortgage payments? It is important that you speak to us before it is too late.  We will go over your individual situation and discuss your options.   To schedule a free consultation,  call us at 631-289-4600 today.

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