more good news about loan modifications working

Newer Modifications Less Likely to Re-Default: Barclays

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.
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Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI  REAL ESTATE
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