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according to Bair, she's presently working with 60,000 total foreclosures, of which roughly 40,000 are eligible, for income, existing debt, owner-occupation,  or other reasons, for loan modification. She expects that 30,000 of those  will successfully reach agreements with banks and get some mortgage relief.

The program is evidently set to explode, as Bair projects she'll be working with some 1.5 million foreclosures in 2009 (hard to believe she's set up to work with that volume), which appears to be somewhere around 30% of projected foreclosures next year.

"It Can't Be Just About Us"
--Frank Schnittger, ETian Extraordinaire

by papicek (papi_cek_at_hotmail_dot_com) on Wed Nov 19th, 2008 at 10:27:20 AM EST
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