According to the numbers released last week by the HOPE NOW Alliance, mortgage servicers completed 149,000 loan modifications for U.S. homeowners in August. Broken down the numbers show that 33,000 modifications were completed through the federal Home Affordable Modification Program (HAMP) while 116,000 homeowners were given a modification through proprietary loan modification programs. One of the most positive statistics from these numbers is the fact that 91% of the modification in August, 105,000, contained a decrease in monthly principle and interest payments for borrowers.
In the year to date 1.3 million homeowners have received some form of mortgage modification, bringing the total to 3.7 million modifications since the housing crisis began in 2007. In addition to the mortgage modification numbers, HOPE NOW released data that showed mortgages behind by 60 days or more fell by almost 43,000 mortgage, from 3,298,236 in July to 3.256,682 in August.
If you are one of the thousands of Floridians facing a Florida Foreclosure Lawsuit and are interested potentially getting a loan modification, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today.
