Less than 1 percent of borrowers will be able to take advantage of the Federal Housing Finance Agency’s new principal reduction program, according to recent estimates from RealtyTrac data, which reinforces the concerns of some who believe the progress is too little, too late. The California-based firm that specializes in data on foreclosed and underwater properties said that out of the 6.7 million seriously delinquent underwater properties in the US at the end of the first quarter of 2016, about 0.50 percent, or 33,622, would potentially qualify for the principal reduction program. When the program was announced in April, the FHFA ackowledged that only a select group of troubled borrowers will be eligible.