Recently USA Today reported that foreclosures have gone through the roof. Obama’s $75 billion plan to reduce foreclosures was introduced several months ago, and since then has led to offers of more than 190,000 loan modifications. Many homeowners have complained that they have not received return phone calls and the information that has been given was inaccurate.

An economist Joe Nardoff said, “Some lenders may not be turning (homeowners) down right away because it might be politically easier to push them off or delay.”

The demand for assistance is bound to grow as people continue to lose jobs. Lenders say they are doing their best, it is clear that there is a lot more work to be done.

This entry was posted on Thursday, July 2nd, 2009 at 2:06 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.