- 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 modification, bankruptcy or debt settlement, please contact us at (781) 315-4566.