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Loan Modifications Rise as Mortgage Delinquencies Jump
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You're Now Reading:
Loan Modifications Rise as Mortgage Delinquencies Jump
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 Rise as Mortgage Delinquencies Jump
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December 20, 2012 (Shirley Allen)

The number of proprietary loan modifications completed by the nation’s mortgage servicers soared in October, along with mortgage delinquencies, 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 72,580 homeowners received permanent, proprietary loan modifications in October, up 19.8 percent from the 60,595 loan modifications in September.

Of the proprietary loan modifications completed in October, eighty-seven percent (62,956) included reduced monthly principal and interest payments, with 81 percent (58,875) receiving a reduction of more than 10 percent. In addition, eighty-nine percent (64,866) of the loan modifications received fixed interest rate loans of five years or more.

Short sales increased by more than 13 percent from the previous month with a total of 38,518 short sales completed in October compared to 33,997 in September.

Monthly foreclosure starts fell even further during October following September’s 19 percent drop. Foreclosure starts declined by 24.3 percent from September, falling from 150,010 to 113,555.

Completed foreclosure sales posted an increase, climbing from 62,645 in September to 71,080 in October.

The number of homeowners that were at least 60 days or more past due increased during the month, jumping from 2.462 million loans in September to 2.544 million in October.

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

Source:
HOPE NOW

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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
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Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

December 20, 2012 (Shirley Allen)

The number of proprietary loan modifications completed by the nation’s mortgage servicers soared in October, along with mortgage delinquencies, 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 72,580 homeowners received permanent, proprietary loan modifications in October, up 19.8 percent from the 60,595 loan modifications in September.

Of the proprietary loan modifications completed in October, eighty-seven percent (62,956) included reduced monthly principal and interest payments, with 81 percent (58,875) receiving a reduction of more than 10 percent. In addition, eighty-nine percent (64,866) of the loan modifications received fixed interest rate loans of five years or more.

Short sales increased by more than 13 percent from the previous month with a total of 38,518 short sales completed in October compared to 33,997 in September.

Monthly foreclosure starts fell even further during October following September’s 19 percent drop. Foreclosure starts declined by 24.3 percent from September, falling from 150,010 to 113,555.

Completed foreclosure sales posted an increase, climbing from 62,645 in September to 71,080 in October.

The number of homeowners that were at least 60 days or more past due increased during the month, jumping from 2.462 million loans in September to 2.544 million in October.

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

Source:
HOPE NOW

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.

December 20, 2012 (Shirley Allen)

The number of proprietary loan modifications completed by the nation’s mortgage servicers soared in October, along with mortgage delinquencies, 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 72,580 homeowners received permanent, proprietary loan modifications in October, up 19.8 percent from the 60,595 loan modifications in September.

Of the proprietary loan modifications completed in October, eighty-seven percent (62,956) included reduced monthly principal and interest payments, with 81 percent (58,875) receiving a reduction of more than 10 percent. In addition, eighty-nine percent (64,866) of the loan modifications received fixed interest rate loans of five years or more.

Short sales increased by more than 13 percent from the previous month with a total of 38,518 short sales completed in October compared to 33,997 in September.

Monthly foreclosure starts fell even further during October following September’s 19 percent drop. Foreclosure starts declined by 24.3 percent from September, falling from 150,010 to 113,555.

Completed foreclosure sales posted an increase, climbing from 62,645 in September to 71,080 in October.

The number of homeowners that were at least 60 days or more past due increased during the month, jumping from 2.462 million loans in September to 2.544 million in October.

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

Source:
HOPE NOW

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.