More than half a million homeowners have been able to change the mortgage interest rates lowest since February \ 's launch of the Obama administration efforts to reduce foreclosures nationally. Unable to perform Translation:invalid textBut the witness said yesterday before a subcommittee of the House Financial Services Committee, Deputy Treasury Secretary Michael Barr, Affordable Home modification program, but more successful than previous steps still have problems. Unable to perform Translation:invalid textAnother question, says Barr, is to convert part of the 45 managers prepared in accordance with the volunteer program to propose a change to the test in real life too. Unable to perform Translation:invalid textSo far, these services, which account for 85 percent of the nation \ 'are 45 million mortgages, 570,000 borrowers studying the change in which a landlord tries to lower its rates to see if payments are still available. Unable to perform Translation:invalid textBut only 360,000 are actually studying the changes, "he said. The administration wants to 500,000 1. Depending on the month of November, too. Unable to perform Translation:invalid textHowever, Barr said that 2.8 million to five million borrowers in question have already come to the government \ 's Home refinancing program cheap. Through this program - homeowners who are able to refinance their mortgage payments, but can not help very often, because the value of their homes in Today \ 's down market - of which borrowers have loans Fannie Mae or Freddie Mac pass instead of a loan at affordable prices. Unable to perform Translation:invalid textBut, be modified or refinanced, Fitch Ratings Inc. reported yesterday that caused 88 percent of a million so-called option mortgages at variable rates between 2004 and 2007. Unable to perform Translation:invalid textOption ARM borrowers are urgent help before the reset mortgage loans that led to the crisis further by Sylvia Alayón, Vice President of Operations for the Center for Consumer Mortgage Audit. Unable to perform Translation:invalid text\ "Bills of houses are about to blast to 63 percent \" for option ARM borrowers were able to monthly payments of principal and interest, interest only, or only a portion of interest due to take "said Alayón yesterday. Unable to perform Translation:invalid textIn the government \ 's Affordable Home Modification Program (COPE), you \' different \ 'for the implementation of the management of processing applications, "said the Treasury Department, the result of insufficient staff and training, among other reasons. Unable to perform Translation:invalid textTreasury Secretary Timothy Geithner and HUD Secretary Shaun Donovan and services called \ "to allocate more money \", the program can be so successful. Unable to perform Translation:invalid textBarr said that Freddie Mac was to develop a \ "second look \" procedure for amending applications were rejected. He also made great efforts to reach borrowers and agencies to consider in connection with HUD-approved counseling to help change. Unable to perform Translation:invalid textTreasury figures show that Bank of America Corp. has more than doubled its amendments to 59,891 in August from July, while Wells Fargo & Co. rose 64 percent to 33.172. Unable to perform Translation:invalid textCitigroup Inc. \ 's up 23 percent, JPMorgan Chase & Co. \' s was 25 percent. Morgan Stanley \ 's Saxon Mortgage Services has received the status of an interpreter at the top, with adjustments for the study, 39 percent of the 73,694 loans into consideration. Unable to perform Translation:invalid textStill, the figures show that 88 percent of borrowers in trouble do not benefit from the program. Unable to perform Translation:invalid textBruce Dorpalen, Acorn \ 's national director of guidance Housing said in a conference call yesterday that the confiscation, without any changes, even if COPE stops the process has been reviewed by a loan. Unable to perform Translation:invalid text\ "We have a regular flow of borrowers to sell in two weeks from the date of foreclosure, when not seen, \" he said. Unable to perform Translation:invalid text\ "After examining the changes were given, \" Dorpalen should be \ "Servicer are the rules. \"
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