U.S. says 11 pct of home loan modifications fail

WASHINGTON, Oct 25 (BestGrowthStock) – The U.S. Treasury Department
said on Monday that 11 percent of the permanent loan workouts
for troubled homeowners entered into in the last nine months
have defaulted.

In total, it says nearly 500,000 permanent modifications
have been negotiated with lenders under the Making Home
Affordable Program and nearly 28,000 modifications were
reported in September.
(Reporting by Glenn Somerville; Editing by James Dalgleish)

U.S. says 11 pct of home loan modifications fail