According to the Federal Housing Finance Agency, distressed-home prevention more than doubled by the two mortgage giants in 2010 compared to 2009.
The FHFA reports that foreclosure prevention actions totaled 946,305 in 2010, which is two times the rate performed in 2009.
These actions were designed by the Obama administration under the Home Affordable Modification Program to help families refinance their loans. However, according to Politico, the program may be on its last leg.
Politico says that Republicans on the House Financial Services Committee plan to submit four separate bills to Congress that will end the federally-funded HAMP, the Neighborhood Stabilization Program, the FHA Refinance Program and the Emergency Homeowner Relief Fund.
Speaking to Politico, a Democratic congressman opposing the bills says families who have struggled financially since moving will be adversely affected.
"The thing I'm most concerned about is taking away the HAMP program and being left with nothing," Representative Elijah Cummings said. "So my position has been, do whatever is necessary to fix it. Mend it, not end it."
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