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Loan Modifications Fall in 2012
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
Loan Modifications Fall in 2012
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
Loan Modifications Fall in 2012

The number of proprietary loan modifications completed by the nation’s mortgage servicers fell for the second consecutive year according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

For all of 2012, a total of 661,363 homeowners received permanent, proprietary loan modifications, down 4.5 percent from the 692,385 loan modifications in 2011.

Including loan modifications made under the federal government’s Home Affordable Modification Program (HAMP), total modifications fell from 1,046,062 in 2011 to 850,034 in 2012.

Of the proprietary loan modifications completed in 2012, eighty-two percent (543,010) included a reduction in monthly principal and interest payments, with 75 percent (495,566) receiving a reduction of more than 10 percent. In addition, ninety percent (598,017) of the loan modifications received fixed interest rate loans of five years or more.

Short sales increased by more than 13 percent from the previous year with a total of 422,605 short sales completed in 2012 compared to 372,168 in 2011.

Foreclosure starts fell every quarter during the year with the largest decline reported between the third and fourth quarters. Foreclosure starts declined by 14.8 percent from 2011, falling from 2,259,108 to 1,923,872 in 2012.

Completed foreclosure sales also declined from the previous year, falling from 840,186 in 2011 to 779,220 in 2012.

The number of homeowners that were at least 60 days or more past due fell during the year, declining from 2,786,439 million loans in 2011 to 2,518,381 million in 2012.

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

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.
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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.
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The number of proprietary loan modifications completed by the nation’s mortgage servicers fell for the second consecutive year according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

For all of 2012, a total of 661,363 homeowners received permanent, proprietary loan modifications, down 4.5 percent from the 692,385 loan modifications in 2011.

Including loan modifications made under the federal government’s Home Affordable Modification Program (HAMP), total modifications fell from 1,046,062 in 2011 to 850,034 in 2012.

Of the proprietary loan modifications completed in 2012, eighty-two percent (543,010) included a reduction in monthly principal and interest payments, with 75 percent (495,566) receiving a reduction of more than 10 percent. In addition, ninety percent (598,017) of the loan modifications received fixed interest rate loans of five years or more.

Short sales increased by more than 13 percent from the previous year with a total of 422,605 short sales completed in 2012 compared to 372,168 in 2011.

Foreclosure starts fell every quarter during the year with the largest decline reported between the third and fourth quarters. Foreclosure starts declined by 14.8 percent from 2011, falling from 2,259,108 to 1,923,872 in 2012.

Completed foreclosure sales also declined from the previous year, falling from 840,186 in 2011 to 779,220 in 2012.

The number of homeowners that were at least 60 days or more past due fell during the year, declining from 2,786,439 million loans in 2011 to 2,518,381 million in 2012.

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

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

The number of proprietary loan modifications completed by the nation’s mortgage servicers fell for the second consecutive year according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

For all of 2012, a total of 661,363 homeowners received permanent, proprietary loan modifications, down 4.5 percent from the 692,385 loan modifications in 2011.

Including loan modifications made under the federal government’s Home Affordable Modification Program (HAMP), total modifications fell from 1,046,062 in 2011 to 850,034 in 2012.

Of the proprietary loan modifications completed in 2012, eighty-two percent (543,010) included a reduction in monthly principal and interest payments, with 75 percent (495,566) receiving a reduction of more than 10 percent. In addition, ninety percent (598,017) of the loan modifications received fixed interest rate loans of five years or more.

Short sales increased by more than 13 percent from the previous year with a total of 422,605 short sales completed in 2012 compared to 372,168 in 2011.

Foreclosure starts fell every quarter during the year with the largest decline reported between the third and fourth quarters. Foreclosure starts declined by 14.8 percent from 2011, falling from 2,259,108 to 1,923,872 in 2012.

Completed foreclosure sales also declined from the previous year, falling from 840,186 in 2011 to 779,220 in 2012.

The number of homeowners that were at least 60 days or more past due fell during the year, declining from 2,786,439 million loans in 2011 to 2,518,381 million in 2012.

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

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