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Foreclosure Sales Decline in May but Foreclosure Starts Jump Up
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Foreclosure Sales Decline in May but Foreclosure Starts Jump Up
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
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.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Foreclosure Sales Decline in May but Foreclosure Starts Jump Up

July 12, 2011 (Shirley Allen)

The number of proprietary loan modifications declined slightly in May 2011 according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. The organization reports that 53,000 homeowners received permanent, proprietary loan modifications in May compared to 57,000 in April, a reduction of 7 percent.

Of the proprietary loan modifications completed, 78 percent (41,000) included reduced monthly principal and interest payments, with 57 percent (30,000) receiving a reduction of more than 10 percent. In addition, 88 percent (47,000) received fixed interest rate loans of five years or more.

The number of loan modifications completed under the federal government’s Home Affordable Modification Program (HAMP) increased to 32,398 in May from 28,867 in April, an increase of 12 percent.

Total proprietary modifications and HAMP modifications for May were 85,000, slightly lower than April’s 86,000 modifications.

Proprietary loan modifications include Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), US Department of Veterans Affairs (VA) and does not include loans modified under the Home Affordable Modification Program (HAMP).

Foreclosure starts were up in May as approximately 176,000 starts were recorded, compared to 163,000 in April, an increase of 8 percent. Completed foreclosure sales dropped from 73,000 in April to 68,000 in May, a decline of 7 percent.

Mortgage delinquencies that are at least 60 days past due increased slightly from 2.65 million properties in April to 2.67 million in May.

May’s data also shows that 80 percent of previous permanent proprietary loan modifications remained less than 90 days past due in the last year. This is the third month in row that 90 days past due loan performance has remained at that level.

Faith Schwartz, Executive Director of HOPE NOW, stated, “HOPE NOW’s monthly data report is designed to provide a comprehensive overview of mortgage market trends and industry efforts to help homeowners avoid foreclosure. While we have seen loan modifications flatten out in recent months, the overall numbers continue to illustrate the size and scope of what mortgage servicers, and their non-profit and government partners, have achieved on behalf of at-risk homeowners.”

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

Source:
HOPE NOW

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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A NEW CAR?


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COULD SAVE YOU THOUSANDS.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 12, 2011 (Shirley Allen)

The number of proprietary loan modifications declined slightly in May 2011 according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. The organization reports that 53,000 homeowners received permanent, proprietary loan modifications in May compared to 57,000 in April, a reduction of 7 percent.

Of the proprietary loan modifications completed, 78 percent (41,000) included reduced monthly principal and interest payments, with 57 percent (30,000) receiving a reduction of more than 10 percent. In addition, 88 percent (47,000) received fixed interest rate loans of five years or more.

The number of loan modifications completed under the federal government’s Home Affordable Modification Program (HAMP) increased to 32,398 in May from 28,867 in April, an increase of 12 percent.

Total proprietary modifications and HAMP modifications for May were 85,000, slightly lower than April’s 86,000 modifications.

Proprietary loan modifications include Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), US Department of Veterans Affairs (VA) and does not include loans modified under the Home Affordable Modification Program (HAMP).

Foreclosure starts were up in May as approximately 176,000 starts were recorded, compared to 163,000 in April, an increase of 8 percent. Completed foreclosure sales dropped from 73,000 in April to 68,000 in May, a decline of 7 percent.

Mortgage delinquencies that are at least 60 days past due increased slightly from 2.65 million properties in April to 2.67 million in May.

May’s data also shows that 80 percent of previous permanent proprietary loan modifications remained less than 90 days past due in the last year. This is the third month in row that 90 days past due loan performance has remained at that level.

Faith Schwartz, Executive Director of HOPE NOW, stated, “HOPE NOW’s monthly data report is designed to provide a comprehensive overview of mortgage market trends and industry efforts to help homeowners avoid foreclosure. While we have seen loan modifications flatten out in recent months, the overall numbers continue to illustrate the size and scope of what mortgage servicers, and their non-profit and government partners, have achieved on behalf of at-risk homeowners.”

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

Source:
HOPE NOW

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 12, 2011 (Shirley Allen)

The number of proprietary loan modifications declined slightly in May 2011 according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. The organization reports that 53,000 homeowners received permanent, proprietary loan modifications in May compared to 57,000 in April, a reduction of 7 percent.

Of the proprietary loan modifications completed, 78 percent (41,000) included reduced monthly principal and interest payments, with 57 percent (30,000) receiving a reduction of more than 10 percent. In addition, 88 percent (47,000) received fixed interest rate loans of five years or more.

The number of loan modifications completed under the federal government’s Home Affordable Modification Program (HAMP) increased to 32,398 in May from 28,867 in April, an increase of 12 percent.

Total proprietary modifications and HAMP modifications for May were 85,000, slightly lower than April’s 86,000 modifications.

Proprietary loan modifications include Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), US Department of Veterans Affairs (VA) and does not include loans modified under the Home Affordable Modification Program (HAMP).

Foreclosure starts were up in May as approximately 176,000 starts were recorded, compared to 163,000 in April, an increase of 8 percent. Completed foreclosure sales dropped from 73,000 in April to 68,000 in May, a decline of 7 percent.

Mortgage delinquencies that are at least 60 days past due increased slightly from 2.65 million properties in April to 2.67 million in May.

May’s data also shows that 80 percent of previous permanent proprietary loan modifications remained less than 90 days past due in the last year. This is the third month in row that 90 days past due loan performance has remained at that level.

Faith Schwartz, Executive Director of HOPE NOW, stated, “HOPE NOW’s monthly data report is designed to provide a comprehensive overview of mortgage market trends and industry efforts to help homeowners avoid foreclosure. While we have seen loan modifications flatten out in recent months, the overall numbers continue to illustrate the size and scope of what mortgage servicers, and their non-profit and government partners, have achieved on behalf of at-risk homeowners.”

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

Source:
HOPE NOW

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS