Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama’s foreclosure prevention plan, raising concerns about the effectiveness of the $75 billion effort.
Fewer than 5% of the trial modifications on loans owned or guaranteed by Freddie Mac were converted to long-term adjustments as of Sept. 30, according to the mortgage finance giant.
Looking more broadly, the figures are even lower. As of Sept. 1, only 1.26% of all trial adjustments were made permanent after three months, reported the Congressional Oversight Panel, which monitors the government’s use of bailout funds.
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I am now fighting B of A on my knees! I am praying to GOD for justice for ALL of us! I am praying that GOD will expose B of A just as he did AIG, Enron and the other crooks who rob and steal from hardworking American like us…”Sin” last for a season…don’t think that they will get away with this. Tomorrow at “noon” PLEASE, just stop for a minute and ask GOD to please intervene on our behalf against Bank of America and other thieving lenders and credit card companies, But, especially for those who are in fighting to save thie homes and properties…Listen, even if you’re not really sure you believe (what do you have to lose by trying), or you haven’t spoken to GOD in awhile…What I am asking you to do will only take “Mustard seed FAITH”…but collectively it could move this mountain! Tomorrow, 12noon Pray…and ask God to take this away…to raise up a “standard” against B of A…expose them and deliver us out of their greddy clutches!