Loan Mod Program Still Sputtering, Despite Attempted Fixes

by Paul Kiel, ProPublica - June 22, 2010 11:15 am EDT

New data released Monday by the Treasury Department shows continued delays and disappointment faced by homeowners in the administration’s mortgage modification program [1].

190,000 homeowners remain stuck in trial mods that have lasted over six months, still waiting to hear whether they’ll receive a permanent modification. Most of those homeowners will likely be dropped from the program.