National Student Loan and Credit Report Debt Attorney

Are Loan Modifications Dropping?

Rate this post

According to the recently released quarterly report by HOPE NOW on the housing market recovery, there was a 16% decrease in the number of permanent modifications offered from May to June.

Since 2007, 6.52 million loan modifications have been completed, including over 1.2 million under the Federal government’s Home Affordable Modification Program (HAMP).

See here: http://www.loansafe.org/hope-now-quarterly-loan-modification-and-foreclosure-report

This is not a good indication for homeowners who are counting on a loan modification to save their home. If your home is underwater, consult an attorney who can talk with you about how to avoid foreclosure, and your options, such as a negotiated settlement or a short sale.

Are Loan Modifications Dropping? was last modified: November 1st, 2014 by Kevin Fallon McCarthy
START NOW
Call 855-976-5777 or Chat Now
  • How much do you owe?
    Select your approximate debt.
    Less debt
    More debt
  • The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.