Inside these posts: HAMP program

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Pace of mortgage mods continues to slow

The number of Chicago-area homeowners who received permanent mortgage modifications rose last month, topping 25,000, but the pace at which consumers are being added to that group has slowed dramatically.

The government’s monthly accounting of its Home Affordable Modification Program showed that in the Chicago area, the 25,001 mortgages that received permanently lower payment terms was a 3.1 percent increase from September. On a percentage basis, that’s the smallest monthly gain of the year, and a dramatic drop from the high double-digit gains recorded earlier this year. Get the full story »

Number of Chicago homeowners getting help rises

The number of delinquent homeowners in the Chicago area who received permanent mortgage loan modifications rose almost 7 percent in August, but participation in trial modification plans fell 21 percent, according to data released Wednesday afternoon by the Treasury Dept.

In the Chicago area, 23,288 homeowners had received permanently modifications between the start of the Home Affordable Modification Program in the spring of 2009 and the end of August. Meanwhile, the number of local homeowners who qualify to receive lower payment terms on a trial basis fell to 10,058 in August, from 12,734 in July. Get the full story »

Fewer homeowners received mortgage help in July

The Treasury Department said Friday that the nation’s housing market “remains fragile” and reported that far fewer delinquent mortgage borrowers received loan modifications through a federal government program in July than they did in June. Get the full story »

Mortgage modifications up 13% from March

By Mary Ellen Podmolik | The Obama administration reported Monday that its efforts to keep
delinquent borrowers in their homes had met with mixed results, and that
these numbers are likely to get worse before they get better.

The administration said permanent modifications of delinquent mortgages
rose to almost 300,000 nationally in April, a 13 percent improvement
over March. But new data from the Treasury Department showed that as of
last month, almost one of every four homeowners who received a trial
loan modification fell out of the program.

Get the full story »