FHFA assists 3.2 million troubled homeowners
But this is still good news for the economy, bringing the total number of completed foreclosure actions to nearly 3.2 million since the start of conservatorship in September 2008.
In the first quarter, 42% of all permanent loan modifications in the first quarter helped to reduce homeowners’ monthly payments by over 30%.
More than 2.6 million of these actions have helped troubled homeowners stay in their homes, including 1.6 million permanent loan modifications.
In addition, as of March 31, about 13% of loans modified in the first quarter of 2013 had missed two or more payments, one year after modification.
The number of Fannie Mae and Freddie Mac serious delinquent borrowers dropped 8% during the first quarter.
Come back tomorrow to www.AshfordCP.com/blog where Kennesaw’s Ashford Capital Partners’ Managing Partners Matthew Riedemann brings you news you can use. More information on homes, home prices, and home price trends available at www.AshfordCP.com