Obama’s Foreclosure Prevention Program

In response to the large number of homeowners facing foreclosure, President Obama established a prevention program to help millions people in financial jeopardy.  Since the start of the program more than 170,000 people have been permanently helped with the mortgage modifications.  That is 15.5 percent of all the people entered the program.  There have, however, been almost 89,000 people who were denied for assisted for being unable to meet the programs criteria.  The number of people who are receiving permanent help is steadily rising as the program goes on.  The administration is continuing to put pressure on mortgage providers to make a decision on those who are still awaiting a determination on their applications.  There are an estimated 835,000 people in the trial period awaiting a decision.

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