Click here for an article from CNN.com today. Banks are supposed to give borrowers a new loan with a payment of 1/3 of their monthly income but have so far been able to help only 230,000 of 4,000,000 eligible borrowers. I’m not sure if the low percentage has to do with people not knowing about this program, the borrowers not qualifying somehow, or if the banks are just overwhelmed – even 230,000 is a pretty big number.
