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Loan Modifications Fall Slightly in December
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You're Now Reading:
Loan Modifications Fall Slightly in December
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Loan Modifications Fall Slightly in December
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The nation’s mortgage lenders completed fewer loan modifications in December than in November according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 43,569 homeowners received permanent loan modifications in December, down 1.7 percent from the 44,320 loan modifications completed in November.

The number of completed proprietary loan modifications fell from 31,324 in November to 30,025 in December, a decline of 4.1 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) increased from 12,996 in November to 13,544 in December.

Of the proprietary loan modifications completed in December, seventy-three percent (21,862) included reduced monthly principal and interest payments, with sixty-six percent (19,943) receiving a reduction of more than ten percent. In addition, ninety-four percent (28,170) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales declined from 41,295 in November to 38,740 in December, a decrease of 6.2 percent.

Monthly foreclosure starts also declined from November to December, falling from 84,238 starts in November to 79,563 in December, a decrease of 5.5 percent.

Short sales posted a slight increase from the previous month as a total of 14,848 short sales were completed in December compared to 14,783 in November.

The average number of homeowners that were at least 60 days or more past due over the previous three months increased from 2.025 million loans in November to 2.031 million in December.

Tags: HOPE NOW, private sector alliance, mortgage servicers, loan modifications, fixed rate mortgages, delinquencies, proprietary modifications, foreclosure starts, foreclosure sales

Source:
HOPE NOW

Reported by Shirley Allen

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The nation’s mortgage lenders completed fewer loan modifications in December than in November according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 43,569 homeowners received permanent loan modifications in December, down 1.7 percent from the 44,320 loan modifications completed in November.

The number of completed proprietary loan modifications fell from 31,324 in November to 30,025 in December, a decline of 4.1 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) increased from 12,996 in November to 13,544 in December.

Of the proprietary loan modifications completed in December, seventy-three percent (21,862) included reduced monthly principal and interest payments, with sixty-six percent (19,943) receiving a reduction of more than ten percent. In addition, ninety-four percent (28,170) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales declined from 41,295 in November to 38,740 in December, a decrease of 6.2 percent.

Monthly foreclosure starts also declined from November to December, falling from 84,238 starts in November to 79,563 in December, a decrease of 5.5 percent.

Short sales posted a slight increase from the previous month as a total of 14,848 short sales were completed in December compared to 14,783 in November.

The average number of homeowners that were at least 60 days or more past due over the previous three months increased from 2.025 million loans in November to 2.031 million in December.

Tags: HOPE NOW, private sector alliance, mortgage servicers, loan modifications, fixed rate mortgages, delinquencies, proprietary modifications, foreclosure starts, foreclosure sales

Source:
HOPE NOW

Reported by Shirley Allen

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

The nation’s mortgage lenders completed fewer loan modifications in December than in November according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 43,569 homeowners received permanent loan modifications in December, down 1.7 percent from the 44,320 loan modifications completed in November.

The number of completed proprietary loan modifications fell from 31,324 in November to 30,025 in December, a decline of 4.1 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) increased from 12,996 in November to 13,544 in December.

Of the proprietary loan modifications completed in December, seventy-three percent (21,862) included reduced monthly principal and interest payments, with sixty-six percent (19,943) receiving a reduction of more than ten percent. In addition, ninety-four percent (28,170) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales declined from 41,295 in November to 38,740 in December, a decrease of 6.2 percent.

Monthly foreclosure starts also declined from November to December, falling from 84,238 starts in November to 79,563 in December, a decrease of 5.5 percent.

Short sales posted a slight increase from the previous month as a total of 14,848 short sales were completed in December compared to 14,783 in November.

The average number of homeowners that were at least 60 days or more past due over the previous three months increased from 2.025 million loans in November to 2.031 million in December.

Tags: HOPE NOW, private sector alliance, mortgage servicers, loan modifications, fixed rate mortgages, delinquencies, proprietary modifications, foreclosure starts, foreclosure sales

Source:
HOPE NOW

Reported by Shirley Allen

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.