Hope Now Has Record Month, But Re-Default Rate High
Foreclosure prevention alliance Hope Now completed 123,000 loan modifications and 125,000 repayment plans in January, a slight increase from the 239,000 workouts in December.
It was the largest number of loan modifications in a single month since the program began in July 2007, while repayment plans matched a record high previously seen in October 2008.
“In the midst of this ever-changing and extremely Read more
Foreclosure Filings Rise for 34th Consecutive Month; Streak Could End
Foreclosure filings were reported on 279,561 U.S. properties in October, a five percent increase from the previous month and a 25 percent increase from the same period a year earlier, RealtyTrac reported today.
However, thanks to recent legislation, foreclosure filings have dropped precipitously in key states, most notably, California.
In the Golden State, overall foreclosure activity was down by double-digit Read more