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Loan Modifications Rise in June, Delinquencies Also Higher
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You're Now Reading:
Loan Modifications Rise in June, Delinquencies Also Higher
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 in June, Delinquencies Also Higher
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August 15, 2012 (Shirley Allen)

Total completed loan modifications increased in June as a rise in proprietary loan modifications more than made up for a drop in HAMP loan modifications 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 46,402 homeowners received permanent, proprietary loan modifications in June, up 5.7 percent from a revised 43,899 loan modifications in May.

Of the proprietary loan modifications completed in June, 80 percent (36,955) included reduced monthly principal and interest payments, with 71 percent (32,939) receiving a reduction of more than 10 percent. In addition, 91 percent (42,198) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s HAMP program fell slightly from May to June with government agencies completing 17,192 loan modifications in June compared to 17,590 in May.

Short sales also saw their numbers decline as a total of 36,535 short sales were completed in June compared to a revised 37,409 in May.

Monthly foreclosure starts fell substantially during June following May’s 14.8 percent jump. Foreclosure starts declined 20.6 percent from May, falling from 198,944 to 157,920.

Completed foreclosure sales increased slightly, edging up from 63,530 in May to 64,236 in June.

The number of homeowners that were at least 60 days or more past due also continued to climb, increasing from 2.465 million loans in May to 2.531 million in June.

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 MortgageLoanRateUpdate 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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
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Calculator
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Rates

August 15, 2012 (Shirley Allen)

Total completed loan modifications increased in June as a rise in proprietary loan modifications more than made up for a drop in HAMP loan modifications 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 46,402 homeowners received permanent, proprietary loan modifications in June, up 5.7 percent from a revised 43,899 loan modifications in May.

Of the proprietary loan modifications completed in June, 80 percent (36,955) included reduced monthly principal and interest payments, with 71 percent (32,939) receiving a reduction of more than 10 percent. In addition, 91 percent (42,198) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s HAMP program fell slightly from May to June with government agencies completing 17,192 loan modifications in June compared to 17,590 in May.

Short sales also saw their numbers decline as a total of 36,535 short sales were completed in June compared to a revised 37,409 in May.

Monthly foreclosure starts fell substantially during June following May’s 14.8 percent jump. Foreclosure starts declined 20.6 percent from May, falling from 198,944 to 157,920.

Completed foreclosure sales increased slightly, edging up from 63,530 in May to 64,236 in June.

The number of homeowners that were at least 60 days or more past due also continued to climb, increasing from 2.465 million loans in May to 2.531 million in June.

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.

August 15, 2012 (Shirley Allen)

Total completed loan modifications increased in June as a rise in proprietary loan modifications more than made up for a drop in HAMP loan modifications 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 46,402 homeowners received permanent, proprietary loan modifications in June, up 5.7 percent from a revised 43,899 loan modifications in May.

Of the proprietary loan modifications completed in June, 80 percent (36,955) included reduced monthly principal and interest payments, with 71 percent (32,939) receiving a reduction of more than 10 percent. In addition, 91 percent (42,198) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s HAMP program fell slightly from May to June with government agencies completing 17,192 loan modifications in June compared to 17,590 in May.

Short sales also saw their numbers decline as a total of 36,535 short sales were completed in June compared to a revised 37,409 in May.

Monthly foreclosure starts fell substantially during June following May’s 14.8 percent jump. Foreclosure starts declined 20.6 percent from May, falling from 198,944 to 157,920.

Completed foreclosure sales increased slightly, edging up from 63,530 in May to 64,236 in June.

The number of homeowners that were at least 60 days or more past due also continued to climb, increasing from 2.465 million loans in May to 2.531 million in June.

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.