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Article: Mortgage aid program continues to move slowly as homeowners try to hang on
- Article from:
- Oakland Tribune
- Article date:
- July 7, 2009
- Author:
CopyrightCopyright 2009 Oakland Tribune. Provided by ProQuest LLC. (Hide copyright information)
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The Obama administration estimates that it's going to help as
many as 4 million homeowners modify their loans. To date, "over
200,000" of these loan modifications have been offered, according to
the Treasury Department. That leaves millions of homeowners waiting
their turn.
Deborah Sherman, of Oakland, is somewhere in that queue. She says
she applied for a loan modification through the government's program
one day after it was announced March 4.
Initially, all she heard from Chase, her loan servicer, was: It
could take as many as 90 days. Four months later, in a letter dated
July 2, Chase wrote that it is "actively reviewing" the request and
"will be following up within thirty (30) days of ...