By the numbers: Since 2007, 3.7 million homes have been sold through foreclosure and 4.7 million homeowners have received permanent loan modifications.
For more: Hope Now
all4nowMonday, August 15, 2011
Loan Modifications Continued to Outpace Foreclosures in 2nd Qtr.
It was about time for some good news! Hope Now--an alliance of counselors, mortgage companies, investors, and other mortgage market participants—reports that although foreclosures are up from March and April, loan modifications continued to outpace foreclosure sales during the second quarter. This is according to the latest report from loan servicers who participate in the Hope Now program. Also the number of mortgages with payments late by 60 days or more declined by 27 percent to 2.73 million.
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