The Obama Administration is doing everything it can to help minimize the effects of the ongoing mortgage crisis. The Home Affordable Modification Program is one of its noteworthy actions designed to keep borrowers in their homes by modifying at-risk mortgages.

Unfortunately, at the end of December, the Treasury Department reported that of the original 728,000 modification trials underway, only 31,382 mortgages had been permanently modified since details of HAMP were released in March 2009.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.