Making Home Affordable not reaching as many as hoped

According to the Daily Real Estate News, the federal loan modification plan, “Making Home Affordable,” has reached about 20 percent of troubled homeowners in the hard-hit states of California, Arizona, and Nevada.

But only about 12 percent of homeowners facing foreclosure in Florida were reached, probably because of the high numbers of investors, analysts said.

Economists think that it is unlikely that the Obama administration will reach its goal of helping 3 million to 4 million borrowers in 3 years with this plan.

Federal officials say they are doing their best and blame loan servicers for dragging their feet. "We are reaching all the places that really got decimated," said Michael Barr, an assistant Treasury secretary.

Whoever is to blame, there are so many troubled homeowners that aren't getting answers. Call Marianne today to talk about your options.