Mortgage Program Helps One in Four Applicants

Washington, DC, March 2, 2011 -- One in four of the 2.7 million homeowners who sought to participate in the Obama administration's mortgage assistance program have succeeded in getting their monthly payments reduced.

The rest failed to qualify for the program or were disqualified after they were initially accepted into the program, the Wall Street Journal said its analysis of the data showed.

In all, about 680,000 homeowners who applied for the Home Affordable Modification Program received permanent modifications of their loans.