President Obama wants mortgage companies to increase their foreclosure-prevention efforts... now! Officials from the US Treasury Department said today that they're going to increase the pressure on over 70 lenders who participate in the government's $75 billion dollar foreclosure assistance program. In fact they're sending small "SWAT teams" to several of the nation's largest mortgage companies to monitor their efforts and request twice-daily reports on their progress. According to the mortgage companies/loan servicers, it's difficult getting distressed home owners to complete the paperwork required to take part in the government's loan modification program. Apparently, almost 60% of the borrowers who are eligible to have their load modifications completed this year have submitted incomplete paperwork... or no paperwork at all!If you're "underwater" on your home and want to modify your mortgage loan, get moving on that paperwork right away. The Obama administration is trying to help you save your house... so help them help you!
Learn some mo': White House tries to spur mortgage relief plan
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