WAITING FOR RELIEF
The nation's major mortgage lenders have been slow to implement the Obama administration's $75 billion loan modification plan for homeowners. Only a fraction of those eligible for the plan have been offered loan modifications.
Modifications offered as percentage of those eligible *
Mod. Mod.
Lenderpct. Lenderpct.
Wachovia Mortgage2% Wells Fargo11%
National City Bank3 CitiMortgage23
Bank of America7 J.P. Morgan Chase25
Ocwen Financial8 GMAC Mortgage26
National average12
* Data through August Source: U.S. Treasury Department
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