BY ALAN ZIBEL AND NICK TIMIRAOS
WASHINGTON—the Obama administration said Friday it would give troubled homeowners another year to enroll in its signature mortgage-assistance program and increase payments to banks in an effort to get them to more aggressively reduce borrowers’ loan balances.
the changes represent the latest overhaul of the administration’s foreclosure-prevention efforts, which President Barack Obama launched three years ago. the administration has fallen far short of its original goal of modifying three million to four million mortgages.
the administration’s Home Affordable Modification Program had been set to expire at the end of this year but will now be extended until the end of …
BY ALAN ZIBEL AND NICK TIMIRAOS
WASHINGTON—the Obama administration said Friday it would give troubled homeowners another year to enroll in its signature mortgage-assistance program and increase payments to banks in an effort to get them to more aggressively reduce borrowers’ loan balances.
the changes represent the latest overhaul of the administration’s foreclosure-prevention efforts, which President Barack Obama launched three years ago. the administration has fallen far short of its original goal of modifying three million to four million mortgages.
the administration’s Home Affordable Modification Program had been set to expire at the end of this year but will now be extended until the end of …
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