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.

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