Almost half of all homeowners seeking help from the Obama administrations effort to help those at risk of foreclosure have left the program.
According to a new report from the Treasure Department, approximately 630,000 people who tried to get their mortgages modified through the program were cut loose in July. That is about 48 percent of the 1.3 million homeowners who had enrolled in the program since March 2009, up from 40 percent in June.
The report suggests foreclosures could continue to rise in the second half of the year and further weaken the already ailing housing market.
The Maryland foreclosure defense attorneys of Chaifetz & Coyle, P.C. can examine your loan to determine whether the lender violated TILA or other laws. If any violations come to light, we may be able to have the foreclosure proceedings against you dismissed. In some cases, you may even be entitled to obtain damages from the bank.
If you or someone you know is facing foreclosure, contact the
Maryland foreclosure defense lawyers of Chaifetz & Coyle, P.C. at 443-546-4608 to learn more about your rights.