The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Foreclosure Prevention Has Aided 116,000
The federal foreclosure prevention program has helped about 12 percent of borrowers who applied for help since the plans were announced a year ago, the Treasury Department says.
About 1 million borrowers initiated the application process, and as of January, about 116,000 home owners–12 percent–had their loans modified. But administration officials say another 76,000 applications have been approved and are awaiting signatures.
Another 830,500 home owners are currently in a trial modification review period during which banks make sure payments are feasible for the borrower and ensure the qualifications of the assistance program are met.
For those who qualify, the Home Affordable Modification Program brings monthly loan payments down to 31 percent of home owners' pre-tax income.
Nearly 60,500 people have been denied permanent modifications.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for Charleston SC Real Estate homes anywhere in the tri-county area go to my website at http://www.charlestonscrealestateforsale.com/mls/
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.charlestonscrealestateforsale.com
Source: CNNMoney, Tami Luhby (02/17/2010) and USA TODAY, Stephanie Armour (02/17/2010)
