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Ms. Mairone said that Detroit would soon have three centers to help troubled borrowers, but said "many of these customers will not be able to get modifications".
Zobel nonetheless ruled that homeowners who contend they did not get modifications for which they qualified under HAMP, to avoid foreclosures, could pursue claims against Bank of America.
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It asked for, and got, modifications, she said.
Fewer than 500,000 households have gotten modifications through the Treasury program, which offers incentives to lenders to participate.
Michael Hickey, executive director of the Center for New York City Neighborhoods, a nonprofit group that provides mortgage counseling, said New Yorkers had more trouble getting modifications than homeowners elsewhere because their mortgages far exceeded the national average.
(As Casey noted, those were only offers. Mnuchin couldn't say how many of those people actually got modifications or how many were foreclosed on).
Getting modifications on your car will help, try and get the biggest exhaust you can, remember the aim is to make your 1-litre engine sound as large as possible.
"We have continued to improve our modification process to help 404,000 families get permanent modifications," he said.
Tony Pierce of Illinois People's Action said he asked Geither to make sure the 76,500 homeowners whose trial modifications have dragged on for longer than six months get permanent modifications.
Because of these realities, the Home Affordable Modification Program of the Treasury has been largely ineffective when it comes to helping borrowers get loan modifications from their banks, according to the Congressional panel. 1 2 3 Next Page ».
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