NEWS FLASH

Obama Administration’s Signature Foreclosure Prevention Program Continues Coming Up Short | Three years ago, the Obama administration launched the Home Affordable Mortgage Program, which was meant to provide mortgage relief to between 3 and 4 million homeowners. However, only about 990,000 homeowners have received a permanent reduction in their mortgage payments so far, with just 19,000 receiving one last month, according to the latest Treasury Department data. Only 43 percent of those who have enrolled in the program have qualified for a permanent modification. Changes made to expand eligibility for the program are not mandatory for loan servicers until June.