1st report card out and it doesnt look good

[LMHC]

On August 4th the Treasury Department released a breakdown of who is doing loan modifications thruogh the Making Home Affordable program and well it doesnt look good. Yes the numbers have gone up a little over the last couple months but it looks as if the Lenders are still lagging in getting these modifications done. Open the attachment below it is the report card directly from the Treasury Dept. and see the numbers of all the Lenders that are participating.

Here are some quick numbers to show not enough is being done yet:

2,705,302 homeowners 60+ days late

406,542 were offered a 3 month trial offer... thats only 15%

235,247 homeowners started the 3 month trial.....thats only 9%

Top US Banks and the percentage of loan modification trial offers they sent out compared to homeowners that were 60+ days late

1. B of A 13%
2. Chase 30%
3. Wells 12%
4. Citi 21%

Well in my opinion I think they got an " F ", lets see what next months report card brings.

Attachments:

[jackhomes]

Yes. i am agree with you this report not so good.

[amberleebradley]

I agree with this but I'm open minded and can give the program more time to prove its quality. I searched the web regarding this program and I came across obama-loanmodification.com/ Well, I learned many more regarding the program.
Anyways, do you have any updates regarding this report card? Hope you could post it.
Thanks!

[sierra]

I do agree with this report. Most of financial crisis can be solved by Government and its policies.

[milliegilbert]

I agree with this Report........not good.........