More people fell out of Obama mortgage-aid program - CNBC: "WASHINGTON - More troubled homeowners are dropping out of the Obama administration's main foreclosure-relief program, which has been widely criticized for failing to help more people keep their homes.
The Treasury department said Wednesday that about 774,000 homeowners have dropped out as of last month. That's about 54 percent of the more than 1.4 million people who applied. And it's up from October, when approximately 756,000 had fallen out.
The program is intended to help those at risk of foreclosure by lowering their monthly payments. Borrowers start with lower payments on a trial basis. The program has struggled to convert them into permanent loan modifications."
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