“Nearly 40 percent of homeowners who received a loan modification that reduced monthly loan payments by 20 percent or more were at least two months late again within a year…”
UPDATE: A plugged-in reader comes through with a link to the original report.
∙ Borrowers with modified loans falling into trouble [The Associated Press]
∙ 9% Of HAMP Eligible Delinquent Loans Modified, 91% To Go [SocketSite]
∙ OCC and OTS Mortgage Metrics Report: Third Quarter 2009 [pdfdownload.org]