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Loan Modifications Up Slightly July
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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
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Loan Modifications Up Slightly July
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.
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Pick the service you desire below
Loan Modifications Up Slightly July

Total loan modifications for the month of July were up slightly from June with an increase in proprietary modifications outweighing a decline in government loan modifications 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 63,298 homeowners received permanent loan modifications in July, up 3.1 percent from 61,366 loan modifications in June.

The number of completed proprietary loan modifications increased from 44,043 in June to 50,115 in July, a gain of 13.8 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) fell from 17,323 in June to 13,183 in July.

Of the proprietary loan modifications completed in July, eighty-two percent (41,047) included reduced monthly principal and interest payments, with 81 percent (40,479) receiving a reduction of more than 10 percent. In addition, ninety-nine percent (49,822) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales increased from 51,654 in June to 58,930 in July, an increase of 14.1 percent.

Monthly foreclosure starts increased for the first time in three months from June to July, increasing from 96,730 starts in June to 101,802 in July, an increase of 5.2 percent.

Short sales fell by 0.6 percent from the previous month as a total of 25,942 short sales were completed in July compared to 26,104 in June.

The average number of homeowners that were at least 60 days or more past due over the previous three months increased from 2.216 million loans in June to 2.239 million in July.

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

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.
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A NEW CAR?

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COULD SAVE YOU THOUSANDS.
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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
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YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

Total loan modifications for the month of July were up slightly from June with an increase in proprietary modifications outweighing a decline in government loan modifications 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 63,298 homeowners received permanent loan modifications in July, up 3.1 percent from 61,366 loan modifications in June.

The number of completed proprietary loan modifications increased from 44,043 in June to 50,115 in July, a gain of 13.8 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) fell from 17,323 in June to 13,183 in July.

Of the proprietary loan modifications completed in July, eighty-two percent (41,047) included reduced monthly principal and interest payments, with 81 percent (40,479) receiving a reduction of more than 10 percent. In addition, ninety-nine percent (49,822) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales increased from 51,654 in June to 58,930 in July, an increase of 14.1 percent.

Monthly foreclosure starts increased for the first time in three months from June to July, increasing from 96,730 starts in June to 101,802 in July, an increase of 5.2 percent.

Short sales fell by 0.6 percent from the previous month as a total of 25,942 short sales were completed in July compared to 26,104 in June.

The average number of homeowners that were at least 60 days or more past due over the previous three months increased from 2.216 million loans in June to 2.239 million in July.

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

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

Total loan modifications for the month of July were up slightly from June with an increase in proprietary modifications outweighing a decline in government loan modifications 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 63,298 homeowners received permanent loan modifications in July, up 3.1 percent from 61,366 loan modifications in June.

The number of completed proprietary loan modifications increased from 44,043 in June to 50,115 in July, a gain of 13.8 percent, while the number of loan modifications made under the federal government’s Home Affordable Modification Program (HAMP) fell from 17,323 in June to 13,183 in July.

Of the proprietary loan modifications completed in July, eighty-two percent (41,047) included reduced monthly principal and interest payments, with 81 percent (40,479) receiving a reduction of more than 10 percent. In addition, ninety-nine percent (49,822) of the loan modifications received fixed interest rate loans of five years or more.

Completed foreclosure sales increased from 51,654 in June to 58,930 in July, an increase of 14.1 percent.

Monthly foreclosure starts increased for the first time in three months from June to July, increasing from 96,730 starts in June to 101,802 in July, an increase of 5.2 percent.

Short sales fell by 0.6 percent from the previous month as a total of 25,942 short sales were completed in July compared to 26,104 in June.

The average number of homeowners that were at least 60 days or more past due over the previous three months increased from 2.216 million loans in June to 2.239 million in July.

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

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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