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Loan Modifications Fall in October
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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
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Loan Modifications Fall in October
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 October

More homeowners received HAMP loan modifications in October but a larger decrease in proprietary loan modifications lead to an overall decline according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 49,990 homeowners received permanent loan modifications in October, down 5.1 percent from the 52,656 loan modifications completed in September.

The number of completed proprietary loan modifications fell from 39,772 in September to 33,607 in October, a decline of 15.5 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) increased from 12,884 in September to 16,383 in October.

Of the proprietary loan modifications completed in October, seventy-four percent (24,929) included reduced monthly principal and interest payments, with sixty-four percent (21,584) receiving a reduction of more than ten percent. In addition, ninety-two percent (30,795) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales increased slightly from 50,622 in September to 51,468 in October, a gain of 1.7 percent.

Monthly foreclosure starts also increased from September to October, climbing from 92,760 starts in September to 101,808 in October, an increase of 9.8 percent.

Short sales were little changed from the previous month as a total of 18,902 short sales were completed in October compared to 18,786 in September.

The average number of homeowners that were at least 60 days or more past due over the previous three months declined from 2.080 million loans in September to 2.035 million in October.

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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More homeowners received HAMP loan modifications in October but a larger decrease in proprietary loan modifications lead to an overall decline according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 49,990 homeowners received permanent loan modifications in October, down 5.1 percent from the 52,656 loan modifications completed in September.

The number of completed proprietary loan modifications fell from 39,772 in September to 33,607 in October, a decline of 15.5 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) increased from 12,884 in September to 16,383 in October.

Of the proprietary loan modifications completed in October, seventy-four percent (24,929) included reduced monthly principal and interest payments, with sixty-four percent (21,584) receiving a reduction of more than ten percent. In addition, ninety-two percent (30,795) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales increased slightly from 50,622 in September to 51,468 in October, a gain of 1.7 percent.

Monthly foreclosure starts also increased from September to October, climbing from 92,760 starts in September to 101,808 in October, an increase of 9.8 percent.

Short sales were little changed from the previous month as a total of 18,902 short sales were completed in October compared to 18,786 in September.

The average number of homeowners that were at least 60 days or more past due over the previous three months declined from 2.080 million loans in September to 2.035 million in October.

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

More homeowners received HAMP loan modifications in October but a larger decrease in proprietary loan modifications lead to an overall decline according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.

Using a three month rolling average, a total of 49,990 homeowners received permanent loan modifications in October, down 5.1 percent from the 52,656 loan modifications completed in September.

The number of completed proprietary loan modifications fell from 39,772 in September to 33,607 in October, a decline of 15.5 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) increased from 12,884 in September to 16,383 in October.

Of the proprietary loan modifications completed in October, seventy-four percent (24,929) included reduced monthly principal and interest payments, with sixty-four percent (21,584) receiving a reduction of more than ten percent. In addition, ninety-two percent (30,795) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales increased slightly from 50,622 in September to 51,468 in October, a gain of 1.7 percent.

Monthly foreclosure starts also increased from September to October, climbing from 92,760 starts in September to 101,808 in October, an increase of 9.8 percent.

Short sales were little changed from the previous month as a total of 18,902 short sales were completed in October compared to 18,786 in September.

The average number of homeowners that were at least 60 days or more past due over the previous three months declined from 2.080 million loans in September to 2.035 million in October.

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