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$75B Mortgage Program Aids Just 9% of Eligible Homeowners

HeadlineAug 05, 2009

New figures show just nine percent of eligible homeowners have been aided by the latest government program to help prevent foreclosures. The Treasury Department says just over 235,000 people have received loan modifications under the $75 billion taxpayer-funded initiative. The Treasury singled out the bailed-out banks Bank of America and Well Fargo as among those that have most failed to assist eligible borrowers.

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