The Real Deal Miami

Loan modifications make little progress

August 05, 2009 11:58AM

Most homeowners who qualify for changes to their mortgage loans aren’t getting new deals from lenders or loan servicers, according to a Treasury Department report. The government said about 15 percent of borrowers who qualify for the program have gotten help, and only about 9 percent have actually had their loans modified. The report did not break out figures for South Florida, but figures for June show more than 85,000 properties in Broward, Palm Beach and Miami-Dade counties were in some stage of foreclosure, according to research firm RealtyTrac.