Only one in four loan modifications in the fourth quarter actually resulted in increased monthly payments. That compares with about half of loans in which the payment was unchanged or increased. The Obama administration has targeted help for up to 9 million borrowers through modified loans. It is working to reduce the number of people who have fallen into default by reducing their monthly payments by 10 percent or increasing their mortgage costs to $1,000 a year. The U.S. Treasury Department says it is working with the Department of Treasury to reduce that figure.”]
Source: https://www.cuinfosecurity.com/regulators-mortgage-modifications-on-rise-a-1353