Recent Foreclosure and Loan Modification Numbers

Posted on September 13, 2011

55,687 homeowners received permanent, proprietary loan modifications in July compared to 50,283 in June, an increase of 11 percent
Of proprietary loan modifications that were completed 80 percent (44,413) included reduced monthly principal and interest payments with 60 percent (33,302) receiving a reduction of more than 10 percent
87 percent (44,402) received fixed interest rate loans of five years or more
Monthly foreclosure starts declined in July with 185,076 starts recorded, compared to 194,310 in June, a decline of 5 percent
Completed foreclosure sales dropped from 72,570 in June to 64,578 in July, a decline of 11 percent

If you would like to learn more and/or receive assistance a bankruptcy, short sale, or a loan modification, please contact us today.