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Total Loan Modifications Increase by 11 Percent in September
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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
Total Loan Modifications Increase by 11 Percent in September
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
Total Loan Modifications Increase by 11 Percent in September

November 21, 2011 (Shirley Allen)

Proprietary loan modifications declined by almost 10 percent from August to September according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. Meanwhile, loan modifications through the federal government’s HAMP program surged 58 percent.

A total of 50,391 homeowners received permanent, proprietary loan modifications in September compared to 55,828 in August, a decline of 9.7 percent.

Of the proprietary loan modifications completed, 84 percent (42,519) included reduced monthly principal and interest payments, with 70 percent (35,069) receiving a reduction of more than 10 percent. In addition, 82 percent (41,484) received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s Home Affordable Modification Program (HAMP) surged 57.8 percent from August to September with government agencies completing 40,141 loan modifications in September compared to 25,434 in August.

A total of 90,532 proprietary loan modifications and HAMP loan modifications were completed in September, 11.4 percent higher than the 81,262 loan modifications completed in August.

Since HOPE NOW began reporting data in 2007 and through the end of September, an estimated 4.97 million proprietary and Home Affordable Modification Program (HAMP) loan modifications have been completed, of which an estimated 4.11 million were proprietary loan modifications and 856,974 have been loan modifications completed under HAMP.

Faith Schwartz, Executive Director of HOPE NOW, stated, “When HOPE NOW started reporting data at the end of 2007, loan modifications were barely measurable. Homeowners either paid their mortgages or forfeited their homes. However, over the past four years the housing crisis has taught us to re-think helping distressed homeowners through an unprecedented level of collaboration, funding, manpower and expanded resources. Five million hard working American families have been able to prevent foreclosures through permanent loan modifications.”

Monthly foreclosure starts fell in September with 196,694 starts recorded, compared to 217,955 in August, a decline of 9.6 percent. Completed foreclosure sales increased slightly from 67,663 in August to 67,970 in September.

Mortgage delinquencies that are at least 60 days past due increased from 2.796 million loans in August to 2.813 million in September.

“The housing crisis is far from over. The industry, and its partners in the non-profit counseling community and the government, remains committed to reaching out to struggling homeowners, improving the customer experience and embracing new technology,” 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.
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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

November 21, 2011 (Shirley Allen)

Proprietary loan modifications declined by almost 10 percent from August to September according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. Meanwhile, loan modifications through the federal government’s HAMP program surged 58 percent.

A total of 50,391 homeowners received permanent, proprietary loan modifications in September compared to 55,828 in August, a decline of 9.7 percent.

Of the proprietary loan modifications completed, 84 percent (42,519) included reduced monthly principal and interest payments, with 70 percent (35,069) receiving a reduction of more than 10 percent. In addition, 82 percent (41,484) received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s Home Affordable Modification Program (HAMP) surged 57.8 percent from August to September with government agencies completing 40,141 loan modifications in September compared to 25,434 in August.

A total of 90,532 proprietary loan modifications and HAMP loan modifications were completed in September, 11.4 percent higher than the 81,262 loan modifications completed in August.

Since HOPE NOW began reporting data in 2007 and through the end of September, an estimated 4.97 million proprietary and Home Affordable Modification Program (HAMP) loan modifications have been completed, of which an estimated 4.11 million were proprietary loan modifications and 856,974 have been loan modifications completed under HAMP.

Faith Schwartz, Executive Director of HOPE NOW, stated, “When HOPE NOW started reporting data at the end of 2007, loan modifications were barely measurable. Homeowners either paid their mortgages or forfeited their homes. However, over the past four years the housing crisis has taught us to re-think helping distressed homeowners through an unprecedented level of collaboration, funding, manpower and expanded resources. Five million hard working American families have been able to prevent foreclosures through permanent loan modifications.”

Monthly foreclosure starts fell in September with 196,694 starts recorded, compared to 217,955 in August, a decline of 9.6 percent. Completed foreclosure sales increased slightly from 67,663 in August to 67,970 in September.

Mortgage delinquencies that are at least 60 days past due increased from 2.796 million loans in August to 2.813 million in September.

“The housing crisis is far from over. The industry, and its partners in the non-profit counseling community and the government, remains committed to reaching out to struggling homeowners, improving the customer experience and embracing new technology,” 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

November 21, 2011 (Shirley Allen)

Proprietary loan modifications declined by almost 10 percent from August to September according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. Meanwhile, loan modifications through the federal government’s HAMP program surged 58 percent.

A total of 50,391 homeowners received permanent, proprietary loan modifications in September compared to 55,828 in August, a decline of 9.7 percent.

Of the proprietary loan modifications completed, 84 percent (42,519) included reduced monthly principal and interest payments, with 70 percent (35,069) receiving a reduction of more than 10 percent. In addition, 82 percent (41,484) received fixed interest rate loans of five years or more.

Loan modifications under the federal government’s Home Affordable Modification Program (HAMP) surged 57.8 percent from August to September with government agencies completing 40,141 loan modifications in September compared to 25,434 in August.

A total of 90,532 proprietary loan modifications and HAMP loan modifications were completed in September, 11.4 percent higher than the 81,262 loan modifications completed in August.

Since HOPE NOW began reporting data in 2007 and through the end of September, an estimated 4.97 million proprietary and Home Affordable Modification Program (HAMP) loan modifications have been completed, of which an estimated 4.11 million were proprietary loan modifications and 856,974 have been loan modifications completed under HAMP.

Faith Schwartz, Executive Director of HOPE NOW, stated, “When HOPE NOW started reporting data at the end of 2007, loan modifications were barely measurable. Homeowners either paid their mortgages or forfeited their homes. However, over the past four years the housing crisis has taught us to re-think helping distressed homeowners through an unprecedented level of collaboration, funding, manpower and expanded resources. Five million hard working American families have been able to prevent foreclosures through permanent loan modifications.”

Monthly foreclosure starts fell in September with 196,694 starts recorded, compared to 217,955 in August, a decline of 9.6 percent. Completed foreclosure sales increased slightly from 67,663 in August to 67,970 in September.

Mortgage delinquencies that are at least 60 days past due increased from 2.796 million loans in August to 2.813 million in September.

“The housing crisis is far from over. The industry, and its partners in the non-profit counseling community and the government, remains committed to reaching out to struggling homeowners, improving the customer experience and embracing new technology,” 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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