Programs for financially troubled homeowners have limited success
When President Obama announced his first foreclosure-prevention initiative in February 2009, he promised $75 billion to help up to 4 million homeowners modify their mortgages to more affordable payments.
More than two years later, less than $3 billion has been spent and fewer than a million homeowners have received permanent loan modifications.
Are you struggling? Now is the time to act! Check out our Avoiding Foreclosure section for helpful information on your options to get started.