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Private Loan Modifications Decline Almost Eight Percent in April
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You're Now Reading:
Private Loan Modifications Decline Almost Eight Percent in April
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:
Private Loan Modifications Decline Almost Eight Percent in April
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June 6, 2012 (Shirley Allen)

Proprietary loan modifications fell by almost eight percent in April and although foreclosure starts remained elevated, foreclosure sales continued to decline 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 42,962 homeowners received permanent, proprietary loan modifications in April, down 7.8 percent from the 46,582 loan modifications in March.

Of the proprietary loan modifications completed in April, 83 percent (35,525) included reduced monthly principal and interest payments, with 76 percent (32,846) receiving a reduction of more than 10 percent. In addition, 89 percent (38,434) of the loan modifications received fixed interest rate loans of five years or more.

Faith Schwartz, Executive Director of HOPE NOW, stated, “The focus remains on streamlining complex and cumbersome processes, improving communication between all parties and enhancing the customer experience. There are significant tools and resources available to homeowners, and all stakeholders involved are committed to educating homeowners on all available alternatives to foreclosure whenever possible.”

Monthly foreclosure starts fell slightly during April following a 6.2 percent jump in March. Foreclosure starts declined a modest 0.4 percent from March to April, falling from 178,014 to 177,259.

Completed foreclosure sales continued to decline, falling from 66,064 in March to 59,643 in April.

Mortgage delinquencies that were at least 60 days past due also declined, falling from 2.543 million loans in March to 2.517 million in April. A year ago, 2.661 million loans were 60 days or more past due.

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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June 6, 2012 (Shirley Allen)

Proprietary loan modifications fell by almost eight percent in April and although foreclosure starts remained elevated, foreclosure sales continued to decline 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 42,962 homeowners received permanent, proprietary loan modifications in April, down 7.8 percent from the 46,582 loan modifications in March.

Of the proprietary loan modifications completed in April, 83 percent (35,525) included reduced monthly principal and interest payments, with 76 percent (32,846) receiving a reduction of more than 10 percent. In addition, 89 percent (38,434) of the loan modifications received fixed interest rate loans of five years or more.

Faith Schwartz, Executive Director of HOPE NOW, stated, “The focus remains on streamlining complex and cumbersome processes, improving communication between all parties and enhancing the customer experience. There are significant tools and resources available to homeowners, and all stakeholders involved are committed to educating homeowners on all available alternatives to foreclosure whenever possible.”

Monthly foreclosure starts fell slightly during April following a 6.2 percent jump in March. Foreclosure starts declined a modest 0.4 percent from March to April, falling from 178,014 to 177,259.

Completed foreclosure sales continued to decline, falling from 66,064 in March to 59,643 in April.

Mortgage delinquencies that were at least 60 days past due also declined, falling from 2.543 million loans in March to 2.517 million in April. A year ago, 2.661 million loans were 60 days or more past due.

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.

June 6, 2012 (Shirley Allen)

Proprietary loan modifications fell by almost eight percent in April and although foreclosure starts remained elevated, foreclosure sales continued to decline 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 42,962 homeowners received permanent, proprietary loan modifications in April, down 7.8 percent from the 46,582 loan modifications in March.

Of the proprietary loan modifications completed in April, 83 percent (35,525) included reduced monthly principal and interest payments, with 76 percent (32,846) receiving a reduction of more than 10 percent. In addition, 89 percent (38,434) of the loan modifications received fixed interest rate loans of five years or more.

Faith Schwartz, Executive Director of HOPE NOW, stated, “The focus remains on streamlining complex and cumbersome processes, improving communication between all parties and enhancing the customer experience. There are significant tools and resources available to homeowners, and all stakeholders involved are committed to educating homeowners on all available alternatives to foreclosure whenever possible.”

Monthly foreclosure starts fell slightly during April following a 6.2 percent jump in March. Foreclosure starts declined a modest 0.4 percent from March to April, falling from 178,014 to 177,259.

Completed foreclosure sales continued to decline, falling from 66,064 in March to 59,643 in April.

Mortgage delinquencies that were at least 60 days past due also declined, falling from 2.543 million loans in March to 2.517 million in April. A year ago, 2.661 million loans were 60 days or more past due.

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.