While loans restructured under the federal government's Home Affordable Modification Program (HAMP) have been highly criticized for their propensity to re-default, the analysts at Barclays Capital say newly modified mortgages stand a better chance of staying current. New data also suggests that foreclosure-to-REO roll rates are ticking up while delinquency rates have peaked, signaling that servicers' efforts have caught up to market conditions and they're making progress working through the foreclosure backlog.
SUNIL SETHI REAL ESTATE
Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI REAL ESTATE
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