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Obama's loan modification program

by AirTalk®

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Weeds grow in the driveway of a foreclosed home on May 7, 2009 in Antioch, California. Justin Sullivan/Getty Images

To bolster its effort to reduce foreclosures, today the Obama administration announced new changes to its Home Affordable Modification Program. The proposed measures include allowing unemployed homeowners a three-month break in payments and giving lenders incentives to reduce the principal on delinquent loans. Will the new plan help to keep home foreclosures down?


Richard Green, Director, USC Lusk Center for Real Estate

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