October, 2009
Mortgage Modification results statistics as of Oct 1, 2009
12 percent of those eligible, have signed up for three-month trial modifications. 50 percent of homeowners with loans modified in the first half of last year had missed at least two months of payments a year later. Only one in three borrowers whose monthly payments were reduced by 20 percent or more falling behind again within a year.
Posted on 1st October 2009No Comments
Government tweaks mortgage-change efforts
second mortgages modified, including a payoff option, Protection of home-price decline, Foreclosure alternatives if modification fails,
Streamlining the number of documents required.
Posted on 1st October 2009No Comments
