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 …

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