November Home Loan Modifications Up: Treasury

Published: Wednesday, 22 Dec 2010 11:24 AM ET By: Reuters (CNBC.com)

The U.S. Treasury Department said on Wednesday that about 30,000 homeowners facing foreclosure got permanent help in November through a loan modification program that should help them keep their homes, an increase from 23,750 in October.

But dropouts from the Obama administration's premier foreclosure prevention program, called the Home Affordable Mortgage Program or HAMP, since its inception now total 774,081. About 1.46 million delinquent borrowers were eligible for help under the program.

Treasury said there were about 505,000 borrowers at the end of November who had active permanent loan modifications in place, up from 483,000 in October.