What Now? Life After the Bailout Bill

Generally, servicers just aren't doing enough to help homeowners, according to the State Working Group, a team of state attorneys general and state banking regulators.

One out of every five loan modifications made in the last year are now delinquent, the group said in a report issued Monday.

"This has raised some serious concerns for us that the modifications made in the last year are modification in name only," said Iowa Attorney General Tom Miller. "They may have changed the terms of the loan, but they have not necessarily offered payment relief to homeowners that are struggling to make their payments."

Nuiz said that the government could improve and streamline the loan modification process.

ACORN and homeowner advocates also support a measure that would allow bankruptcy court judges to modify home loans.

Intervention by judges, Nuiz said, could also help more homeowners avoid foreclosure. And, she said, the prospect of seeing loans cut by a bankruptcy judge could encourage more home lenders to perform more loan modifications.

The addition of homeowner assistance provisions, Nuiz said, could provide the bill with the support it needs to achieve congressional approval.

"We hope it's at least up for discussion," she said.

With reports from the Associated Press and ABC News' Scott Mayerowitz, Betsy Stark, Justine Schiro and Sharyn Alfonsi.

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