10 foreclosures for every home saved

We all know about the poor condition of the housing industry and the high number of foreclosures. This article sheds some light on how bad it really is. Obama's mortgage modification program is only helping a small portion of the people that are more than 60 days behind on their loans. There are over 6 million borrowers, but only about 169,000 have received long-term mortgage modifications. The plan will only likely assist 1million homeowners. For every borrower that lost their home, there was another 10 families that faced foreclosures last year.