New housing crisis
Look out below! The US housing market could be looking at a second steep decline in 2010 after statistics released last week show how poorly the Obama administration's mortgage modification plan is working. The millions of families hoping for a permanent mortgage modification may never get one -- and with their homes worth less than they owe on their loans, they may decide to walk away from the home voluntarily or be foreclosed upon as their trial modifications expire. The snail's pace of permanent mortgage modifications -- just 31,382 out of 3.3 million eligible loans have been cut -- could...
Original Article: Forum: News/Activism
Tags: Eligible Loans, Pace, Permanent Mortgage, Snail, Statistics, Steep Decline, Us Housing Market