Reporting from Washington – After a month of intense pressure on banks and other mortgage servicers, the Obama administration on Friday reported improvement in its much-criticized program to reduce mortgage payments to stave off foreclosures.
The number of temporary loan modifications that were made permanent had more than doubled to 66,465 as of Dec. 30, the Treasury Department said.
In addition, 46,056 three-month trial mortgage modifications were approved and awaiting only the homeowner signatures before they were made permanent as well.
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