The US government’s home foreclosure prevention programme saw a significant increase in permanent loan modifications in September, attributed to improved technology for case status reporting.
According to a Reuters report, the Home Affordable Modification programme aided 40,141 homeowners in obtaining permanently lower loan payments in September, up from 25,434 homeowners in the preceding month.
Meanwhile, the Department of Housing and Urban Development and the US Treasury Department noted that 856,974 homeowners have been granted permanent loan modifications since the programme was introduced in 2009. However, 136,362 of the total number have been cancelled, an increase of 10,064 in September.
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