Obama Extends Mortgage Modification Program To 2015

Law360, New York (May 30, 2013, 2:08 PM EDT) -- The Obama administration on Thursday announced a two-year extension of its main foreclosure prevention tool even as the housing market recovers and the foreclosure crisis has begun to abate.

In a statement, the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development said that troubled homeowners would have until December 2015 to apply for a mortgage modification under the Home Affordable Modification Program, which was originally slated to expire at the end of this year.

“The housing market is gaining steam,...
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