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Recent Foreclosure and Loan Modification Numbers

Posted by Matthew T. Desrochers | Mar 21, 2017 | 0 Comments

  • 55,687 homeowners received permanent, proprietary loan modifications in July compared to 50,283 in June, an increase of 11 percent.
  • Of proprietary loan modifications that were completed, 80 percent (44,413) included reduced monthly principal and interest payments with 60 percent (33,302) receiving a reduction of more than 10 percent.
  • 87 percent (44,402) received fixed interest rate loans of five years or more.
  • Monthly foreclosure starts declined in July with 185,076 starts recorded, compared to 194,310 in June, a decline of 5 percent.
  •  Completed foreclosure sales dropped from 72,570 in June to 64,578 in July, a decline of 11 percent.

If you would like to learn more and/or receive assistance with foreclosure, Mortgage Audit, loan modificationbankruptcy or debt settlement, please contact us at (781) 315-4566.

About the Author

Matthew T. Desrochers

Mr. Desrochers is the managing attorney at the office that was founded in 1999.  Matthew helps homeowners avoid foreclosure and get out of debt.  This work consist of Loan Modification, Short Sales, Chapter 13 and Chapter 7 bankrcupty cases, including mortgage settlement and IRS Offers in Comprom...

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