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Loan Modifications Increase in November, Foreclosures Decline
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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 Increase in November, Foreclosures Decline
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 Increase in November, Foreclosures Decline

January 20, 2012 (Shirley Allen)

Both proprietary and government loan modifications increased slightly in November according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, while foreclosure starts fell over 20 percent.

A total of 56,948 homeowners received permanent, proprietary loan modifications in November compared to 53,394 in October, an increase of 6.7 percent.

Of the proprietary loan modifications completed, 68 percent (38,952) included reduced monthly principal and interest payments, with 66 percent (37,502) receiving a reduction of more than 10 percent. In addition, 83 percent (47,404) received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s Home Affordable Modification Program (HAMP) remained almost unchanged from October to November with government agencies completing 26,877 loan modifications in November compared to 26,102 in October.

A total of 83,825 proprietary loan modifications and HAMP loan modifications were completed in November, 5.4 percent higher than the 79,496 loan modifications completed in October.

Since HOPE NOW began reporting data in 2007 and through the end of November, an estimated 5.13 million proprietary and Home Affordable Modification Program (HAMP) loan modifications have been completed, of which an estimated 4.22 million were proprietary loan modifications and 909,953 have been loan modifications completed under HAMP.

Faith Schwartz, Executive Director of HOPE NOW, stated, “The mortgage industry and its partners have worked hard for homeowners nationwide. With almost one million loan modifications completed in the first eleven months of 2011 and over 5 million since 2007, it is clear that efforts to assist at-risk families via all available channels are bearing some fruit.”

Monthly foreclosure starts fell in November with 165,547 starts recorded, compared to 208,776 in October, a decline of 20.7 percent. Completed foreclosure sales increased from 64,389 in October to 70,626 in November.

Mortgage delinquencies that are at least 60 days past due increased from 2.646 million loans in October to 2.766 million in November.

“There are more alternatives to foreclosure than ever before for homeowners through federal programs, proprietary modifications, and state level initiatives such as Hardest Hit Funds. Mortgage servicers and non-profit, housing counselors are using all tools at their disposal to find options that fit each individual homeowner’s situation whenever possible. The emphasis continues to be on improving the customer experience through enhanced technology, single point of contact and leveraging all tools available to assist,” Schwartz added.

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

Source:
HOPE NOW

INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

January 20, 2012 (Shirley Allen)

Both proprietary and government loan modifications increased slightly in November according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, while foreclosure starts fell over 20 percent.

A total of 56,948 homeowners received permanent, proprietary loan modifications in November compared to 53,394 in October, an increase of 6.7 percent.

Of the proprietary loan modifications completed, 68 percent (38,952) included reduced monthly principal and interest payments, with 66 percent (37,502) receiving a reduction of more than 10 percent. In addition, 83 percent (47,404) received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s Home Affordable Modification Program (HAMP) remained almost unchanged from October to November with government agencies completing 26,877 loan modifications in November compared to 26,102 in October.

A total of 83,825 proprietary loan modifications and HAMP loan modifications were completed in November, 5.4 percent higher than the 79,496 loan modifications completed in October.

Since HOPE NOW began reporting data in 2007 and through the end of November, an estimated 5.13 million proprietary and Home Affordable Modification Program (HAMP) loan modifications have been completed, of which an estimated 4.22 million were proprietary loan modifications and 909,953 have been loan modifications completed under HAMP.

Faith Schwartz, Executive Director of HOPE NOW, stated, “The mortgage industry and its partners have worked hard for homeowners nationwide. With almost one million loan modifications completed in the first eleven months of 2011 and over 5 million since 2007, it is clear that efforts to assist at-risk families via all available channels are bearing some fruit.”

Monthly foreclosure starts fell in November with 165,547 starts recorded, compared to 208,776 in October, a decline of 20.7 percent. Completed foreclosure sales increased from 64,389 in October to 70,626 in November.

Mortgage delinquencies that are at least 60 days past due increased from 2.646 million loans in October to 2.766 million in November.

“There are more alternatives to foreclosure than ever before for homeowners through federal programs, proprietary modifications, and state level initiatives such as Hardest Hit Funds. Mortgage servicers and non-profit, housing counselors are using all tools at their disposal to find options that fit each individual homeowner’s situation whenever possible. The emphasis continues to be on improving the customer experience through enhanced technology, single point of contact and leveraging all tools available to assist,” Schwartz added.

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

Source:
HOPE NOW

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

January 20, 2012 (Shirley Allen)

Both proprietary and government loan modifications increased slightly in November according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, while foreclosure starts fell over 20 percent.

A total of 56,948 homeowners received permanent, proprietary loan modifications in November compared to 53,394 in October, an increase of 6.7 percent.

Of the proprietary loan modifications completed, 68 percent (38,952) included reduced monthly principal and interest payments, with 66 percent (37,502) receiving a reduction of more than 10 percent. In addition, 83 percent (47,404) received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s Home Affordable Modification Program (HAMP) remained almost unchanged from October to November with government agencies completing 26,877 loan modifications in November compared to 26,102 in October.

A total of 83,825 proprietary loan modifications and HAMP loan modifications were completed in November, 5.4 percent higher than the 79,496 loan modifications completed in October.

Since HOPE NOW began reporting data in 2007 and through the end of November, an estimated 5.13 million proprietary and Home Affordable Modification Program (HAMP) loan modifications have been completed, of which an estimated 4.22 million were proprietary loan modifications and 909,953 have been loan modifications completed under HAMP.

Faith Schwartz, Executive Director of HOPE NOW, stated, “The mortgage industry and its partners have worked hard for homeowners nationwide. With almost one million loan modifications completed in the first eleven months of 2011 and over 5 million since 2007, it is clear that efforts to assist at-risk families via all available channels are bearing some fruit.”

Monthly foreclosure starts fell in November with 165,547 starts recorded, compared to 208,776 in October, a decline of 20.7 percent. Completed foreclosure sales increased from 64,389 in October to 70,626 in November.

Mortgage delinquencies that are at least 60 days past due increased from 2.646 million loans in October to 2.766 million in November.

“There are more alternatives to foreclosure than ever before for homeowners through federal programs, proprietary modifications, and state level initiatives such as Hardest Hit Funds. Mortgage servicers and non-profit, housing counselors are using all tools at their disposal to find options that fit each individual homeowner’s situation whenever possible. The emphasis continues to be on improving the customer experience through enhanced technology, single point of contact and leveraging all tools available to assist,” Schwartz added.

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

Source:
HOPE NOW

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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.
SEARCH FOR A HOME
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

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