Hope Now, a coalition of servicers, community groups and mortgage investors, reported only 87,000 loans in February were modified, compared with 110,000 in December 2010 The one bright spot is the month-over-month drops in both new foreclosures and in the number of 60 days late payments
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month end based on MBA Methodology excluding loans that are currently in Pre-Sale foreclosure. Total Foreclosure Starts – The total number of loans referred to an attorney to initiate the legal process of foreclosure during the month. Completed Foreclosure Sale – The number of loans that went to foreclosure (sheriffs) sale during the month.
Hope Now says it has helped a total of 2.3 million homeowners since its program launched in July, 2007. The group also reported that foreclosure sales fell to 86,594 in August, down 5.9% from July.
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NEW YORK (CNNMoney.com) — The nation’s top banking regulator warned Tuesday that help for troubled homeowners is failing to keep pace with the foreclosure crisis. "We’re definitely behind the curve,
If you own a home, or hope to some day. Simplifying Modifications: Say you fall on hard times and need help managing your mortgage. Servicers now have to explore all options available to help you.
Symbol Starts With.. And a total of 80,926 families lost their homes to foreclosure in April, according to Hope Now, up 12% from 72,024 in March.. about 77,000 of the total workouts, or 42%.
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The state received $19.6 million overall for the neighborhood stabilization program and distributed it based on foreclosure. now are waiting for Gresham’s approval before acting on it. Officials.
HOPE NOW also reported foreclosure sales nationwide in August increased 12% to 71,149, up from 63,527 in July. And foreclosure starts increased 14% to 187,941, compared with 164,593 in July. In the West, foreclosure starts have been on the decline.
Freddie Mac publishes single-family loan-level data for all fixed-rate mortgages Freddie Mac announced Monday that it is making single-family loan-level data publicly available for all fixed-rate mortgages as part of an effort to provide investors with more information about.
"Throughout 2008, the re-default rate ranged between 30% and 40%," explains Hope Now, defining such recidivist shame as "any mortgage that is 90 or more days delinquent or in foreclosure 6 months after the date it was first modified." One-third of bad loans turned bad once again, in other words, even after the lender cut the debtor some slack.
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