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Wednesday, January 5, 2011

Hope Now: November mortgage modifications doubled foreclosure sales

This means that private loan modifications are beating government sponsored loan mods.
or November, Hope Now said mortgage servicers closed about 82,000 proprietary loan modifications while the Obama administration's Home Affordable Modification Program completed nearly 30,000. Hope Now said the number of modifications are currently outnumbering the number of foreclosure sales two to one. For the year to date, there have been about 482,700 HAMP permanent modifications and 1.17 million proprietary modifications, according to Hope Now.
At this point HAMP should really end.
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