Mortgage Modifications Under Obama’s Signature Foreclosure Prevention Program Fall To Lowest Level Since April 2009

The Huffington Post’s Arthur Delaney notes that, according to the latest data, “fewer homeowners entered preliminary mortgage modifications under the Obama administration’s signature foreclosure prevention initiative in June than in any month since April 2009.” The Home Affordable Modification Program (HAMP) was supposed to help 3 to 4 million homeowners but so far, “nearly 870,000 struggling homeowners have been kicked out of the initiative, while just 657,044 remain in permanent modifications.”