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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Short Sale Delays Drive First-Time Buyers From Market: Survey

Processing delays have taken their toll on first-time homebuyer interest in short sales, according to the latest HousingPulse Tracking Survey released by Campbell Surveys and Inside Mortgage Finance Monday. First-time homebuyers were a part of 39.7 percent of the short sale transactions completed in August, the HousingPulse survey found. That tally marks a three-month slide …

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