Borrowers face foreclosure after Obama loan assistance plan fails to provide help - chicagotribune.com

Borrowers face foreclosure after Obama loan assistance plan fails to provide help - chicagotribune.com

The result could be a new wave of foreclosures that could weaken the housing market and hold back the broader economic recovery.

Most of those homeowners were rejected during a trial period lasting at least three months. More than 6,300 dropped out after having their loans modified.

What did I tell you Saturday??? My realtor friends seems to be on the right side of the wave. If you aren't in foreclosure but are nearing a deliquency or are deliquent, start seeking help early.