February modifications and foreclosures down

HOPE NOW, a private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors, estimated 45,000 homeowners received permanent, non-HAMP loan modifications from mortgage servicers during February 2012, down from 56,000, or 20 percent, compared to the month before in January.

While modifications were down, foreclosure sales and foreclosure starts also declined on a month-over-month basis, with 69,000 foreclosure sales and 167,000 foreclosure starts in February, compared to 79,000 sales, a 12 percent drop, and 200,000 starts, a 17 percent drop, in January.

Loans 60 days or more delinquent dropped from 2.77 million in January to 2.66 million in February, a 4 percent decrease…

Read the rest of this article by DSNews.com here: “HOPE NOW Reports February Modifications and Foreclosures Down“.

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