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Proprietary Loan Modifications Decline in August
HOW LOANRATEUPDATE WORKS
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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
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Proprietary Loan Modifications Decline in August
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
Proprietary Loan Modifications Decline in August

October 24, 2012 (Shirley Allen)

Mortgage servicers completed less proprietary loan modifications in August than they did in July but still remained at elevated levels 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 59,459 homeowners received permanent, proprietary loan modifications in August, down 9.9 percent from the 66,002 loan modifications in July.

Of the proprietary loan modifications completed in August, eighty-two percent (48,524) included reduced monthly principal and interest payments, with 71 percent (42,388) receiving a reduction of more than 10 percent. In addition, ninety-three percent (55,531) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications through the federal government’s Home Affordable Modification Program (HAMP) remained at about the same levels seen for the previous two quarters.

Short sales climbed higher than the previous month as a total of 39,559 short sales were completed in August compared to a revised 36,230 in July.

Monthly foreclosure starts jumped during August following July’s 4.9 percent increase. Foreclosure starts increased 14.2 percent from July, climbing from 164,593 to 187,941.

Completed foreclosure sales also jumped, increasing from 63,527 in July to 71,149 in August.

The number of homeowners that were at least 60 days or more past due continued to decline, falling from 2.471 million loans in July to 2.421 million in August.

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.
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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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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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October 24, 2012 (Shirley Allen)

Mortgage servicers completed less proprietary loan modifications in August than they did in July but still remained at elevated levels 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 59,459 homeowners received permanent, proprietary loan modifications in August, down 9.9 percent from the 66,002 loan modifications in July.

Of the proprietary loan modifications completed in August, eighty-two percent (48,524) included reduced monthly principal and interest payments, with 71 percent (42,388) receiving a reduction of more than 10 percent. In addition, ninety-three percent (55,531) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications through the federal government’s Home Affordable Modification Program (HAMP) remained at about the same levels seen for the previous two quarters.

Short sales climbed higher than the previous month as a total of 39,559 short sales were completed in August compared to a revised 36,230 in July.

Monthly foreclosure starts jumped during August following July’s 4.9 percent increase. Foreclosure starts increased 14.2 percent from July, climbing from 164,593 to 187,941.

Completed foreclosure sales also jumped, increasing from 63,527 in July to 71,149 in August.

The number of homeowners that were at least 60 days or more past due continued to decline, falling from 2.471 million loans in July to 2.421 million in August.

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

October 24, 2012 (Shirley Allen)

Mortgage servicers completed less proprietary loan modifications in August than they did in July but still remained at elevated levels 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 59,459 homeowners received permanent, proprietary loan modifications in August, down 9.9 percent from the 66,002 loan modifications in July.

Of the proprietary loan modifications completed in August, eighty-two percent (48,524) included reduced monthly principal and interest payments, with 71 percent (42,388) receiving a reduction of more than 10 percent. In addition, ninety-three percent (55,531) of the loan modifications received fixed interest rate loans of five years or more.

Loan modifications through the federal government’s Home Affordable Modification Program (HAMP) remained at about the same levels seen for the previous two quarters.

Short sales climbed higher than the previous month as a total of 39,559 short sales were completed in August compared to a revised 36,230 in July.

Monthly foreclosure starts jumped during August following July’s 4.9 percent increase. Foreclosure starts increased 14.2 percent from July, climbing from 164,593 to 187,941.

Completed foreclosure sales also jumped, increasing from 63,527 in July to 71,149 in August.

The number of homeowners that were at least 60 days or more past due continued to decline, falling from 2.471 million loans in July to 2.421 million in August.

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