Loan Modifications Decline in April
Loan Modifications Decline in April
Loan Modifications Decline in April
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The number of proprietary loan modifications fell in April according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors while foreclosure sales posted an increase for the second consecutive month.

Using a three month rolling average, a total of 57,922 homeowners received permanent, proprietary loan modifications in April, down 24.3 percent from the 76,522 loan modifications in March.

Of the proprietary loan modifications completed in April, eighty-three percent (48,349) included reduced monthly principal and interest payments, with 76 percent (43,799) receiving a reduction of more than 10 percent. In addition, ninety-three percent (54,072) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales jumped from 51,551 in March to 58,817 in April, an increase of 14.1 percent.

Meanwhile, monthly foreclosure starts dipped slightly from March to April, the second consecutive month that starts have declined following four months of increases. Foreclosure starts fell just 0.7 percent, declining from 115,582 starts in March to 114,768 in April.

Short sales fell by five percent from the previous month as a total of 26,667 short sales were completed in April compared to 28,085 in March.

The number of homeowners that were at least 60 days or more past due declined during the month, falling from 2.377 million loans in March to 2.166 million in April.

Tags: HOPE NOW, private sector alliance, mortgage servicers, loan modifications, fixed rate mortgages, delinquencies, proprietary modifications, foreclosure starts, foreclosure sales

Source:
HOPE NOW

Reported by Shirley Allen

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The number of proprietary loan modifications fell in April according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors while foreclosure sales posted an increase for the second consecutive month.

Using a three month rolling average, a total of 57,922 homeowners received permanent, proprietary loan modifications in April, down 24.3 percent from the 76,522 loan modifications in March.

Of the proprietary loan modifications completed in April, eighty-three percent (48,349) included reduced monthly principal and interest payments, with 76 percent (43,799) receiving a reduction of more than 10 percent. In addition, ninety-three percent (54,072) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales jumped from 51,551 in March to 58,817 in April, an increase of 14.1 percent.

Meanwhile, monthly foreclosure starts dipped slightly from March to April, the second consecutive month that starts have declined following four months of increases. Foreclosure starts fell just 0.7 percent, declining from 115,582 starts in March to 114,768 in April.

Short sales fell by five percent from the previous month as a total of 26,667 short sales were completed in April compared to 28,085 in March.

The number of homeowners that were at least 60 days or more past due declined during the month, falling from 2.377 million loans in March to 2.166 million in April.

Tags: HOPE NOW, private sector alliance, mortgage servicers, loan modifications, fixed rate mortgages, delinquencies, proprietary modifications, foreclosure starts, foreclosure sales

Source:
HOPE NOW

Reported by Shirley Allen

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 LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
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.
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The number of proprietary loan modifications fell in April according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors while foreclosure sales posted an increase for the second consecutive month.

Using a three month rolling average, a total of 57,922 homeowners received permanent, proprietary loan modifications in April, down 24.3 percent from the 76,522 loan modifications in March.

Of the proprietary loan modifications completed in April, eighty-three percent (48,349) included reduced monthly principal and interest payments, with 76 percent (43,799) receiving a reduction of more than 10 percent. In addition, ninety-three percent (54,072) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales jumped from 51,551 in March to 58,817 in April, an increase of 14.1 percent.

Meanwhile, monthly foreclosure starts dipped slightly from March to April, the second consecutive month that starts have declined following four months of increases. Foreclosure starts fell just 0.7 percent, declining from 115,582 starts in March to 114,768 in April.

Short sales fell by five percent from the previous month as a total of 26,667 short sales were completed in April compared to 28,085 in March.

The number of homeowners that were at least 60 days or more past due declined during the month, falling from 2.377 million loans in March to 2.166 million in April.

Tags: HOPE NOW, private sector alliance, mortgage servicers, loan modifications, fixed rate mortgages, delinquencies, proprietary modifications, foreclosure starts, foreclosure sales

Source:
HOPE NOW

Reported by Shirley Allen

HOW LOANRATENETWORK
LOAN CENTER 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 LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
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.