Land of the mod people

Land of the mod people

(snip)

...First, let me explain briefly what a trial modification is. When you're having trouble making payments and you request a mod under the Home Affordable Modification Program, or HAMP, the mortgage servicer asks you a few questions, and if it looks like you qualify, you are enrolled in a three-month trial in which your payments are reduced. If you successfully complete the three-month trial period, AND if you return more than a dozen financial disclosure forms that are properly filled out, dated and signed, then you just might qualify for a permanent modification.

OK. So. Half a million trial mods since the program began in March. And how many trial mods have become permanent?

Two thousand.

That's 40 per state in a 7-month-old program, or less than six per month per state....
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