WASHINGTON (Reuters) - Only 12 percent of the troubled U.S. homeowners believed to be eligible for loan modifications under the Obama administration’s housing rescue plan have had their mortgages reworked, a U.S. Treasury Department report showed on Wednesday.
In all, 360,165 borrowers have had their monthly payments reduced under the plan in the period through August, up from 235,247 through July, the Treasury said. A month ago, the Treasury had said just 9 percent of the estimated number of homeowners eligible had had their loans modified.
Reporting by Tim Ahmann, Editing by Chizu Nomiyama
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