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About 90,000 distressed borrowers have lost their mortgage aid under the government’s foreclosure prevention plan and many more are at risk of losing the help, according to Treasury data released Friday.
Many of these borrowers did not turn in required documents to prove they qualified for the program, which typically lowers a borrower’s mortgage payment by more than $500 a month. But others never qualified in the first place. Some applicants earned too much under the government’s formula, while others made too little and were unlikely to be able to keep up with even the lower payments.
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