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How many struggling homeowners will get a mortgage modification through the government's $75 billion program? It would seem to be a simple question. But for the past year, the administration has been saying one thing, and observers have been hearing another.

What the administration has been saying is that the program 'will help up to 3 to 4 million at-risk homeowners avoid foreclosure by reducing monthly mortgage payments.' Sounds like the Treasury Department is aiming to get 3 million to 4 million modifications, right?

Actually, Treasury's real goal is between 1.5 million and 2 million permanent modifications, according to a new watchdog report.

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