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Proprietary Loan Modifications Decline Slightly in January
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Proprietary Loan Modifications Decline Slightly in January
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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
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Proprietary Loan Modifications Decline Slightly in January

The number of proprietary loan modifications completed by the nation’s mortgage servicers declined slightly from December to January according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors while foreclosure starts moved higher for the third consecutive month.

Using a three month rolling average, a total of 78,397 homeowners received permanent, proprietary loan modifications in January, down 2.5 percent from the 80,398 loan modifications in December.

Of the proprietary loan modifications completed in January, eighty-five percent (52,113) included reduced monthly principal and interest payments, with 76 percent (48,595) receiving a reduction of more than 10 percent. In addition, eighty-eight percent (55,698) of the loan modifications received fixed interest rate loans of five years or more.

Short sales fell by more than 13 percent from the previous month as a total of 29,244 short sales were completed in January compared to 34,909 in December.

Monthly foreclosure starts continued to climb for the third consecutive month. Foreclosure starts increased by 8.8 percent from December, climbing from 129,139 to 140,482 in January.

Completed foreclosure sales jumped from 49,835 in December to 60,412 in January.

The number of homeowners that were at least 60 days or more past due declined slightly during the month, falling from 2.566 million loans in December to 2.529 million in January.

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.
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The number of proprietary loan modifications completed by the nation’s mortgage servicers declined slightly from December to January according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors while foreclosure starts moved higher for the third consecutive month.

Using a three month rolling average, a total of 78,397 homeowners received permanent, proprietary loan modifications in January, down 2.5 percent from the 80,398 loan modifications in December.

Of the proprietary loan modifications completed in January, eighty-five percent (52,113) included reduced monthly principal and interest payments, with 76 percent (48,595) receiving a reduction of more than 10 percent. In addition, eighty-eight percent (55,698) of the loan modifications received fixed interest rate loans of five years or more.

Short sales fell by more than 13 percent from the previous month as a total of 29,244 short sales were completed in January compared to 34,909 in December.

Monthly foreclosure starts continued to climb for the third consecutive month. Foreclosure starts increased by 8.8 percent from December, climbing from 129,139 to 140,482 in January.

Completed foreclosure sales jumped from 49,835 in December to 60,412 in January.

The number of homeowners that were at least 60 days or more past due declined slightly during the month, falling from 2.566 million loans in December to 2.529 million in January.

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 declined slightly from December to January according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors while foreclosure starts moved higher for the third consecutive month.

Using a three month rolling average, a total of 78,397 homeowners received permanent, proprietary loan modifications in January, down 2.5 percent from the 80,398 loan modifications in December.

Of the proprietary loan modifications completed in January, eighty-five percent (52,113) included reduced monthly principal and interest payments, with 76 percent (48,595) receiving a reduction of more than 10 percent. In addition, eighty-eight percent (55,698) of the loan modifications received fixed interest rate loans of five years or more.

Short sales fell by more than 13 percent from the previous month as a total of 29,244 short sales were completed in January compared to 34,909 in December.

Monthly foreclosure starts continued to climb for the third consecutive month. Foreclosure starts increased by 8.8 percent from December, climbing from 129,139 to 140,482 in January.

Completed foreclosure sales jumped from 49,835 in December to 60,412 in January.

The number of homeowners that were at least 60 days or more past due declined slightly during the month, falling from 2.566 million loans in December to 2.529 million in January.

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