Wednesday, August 25, 2010

Fewer recently modified mortgages are falling into foreclosure

LIES, Damn Lies and Statistics

Recent mortgage modifications in the U.S. are more successful at keeping borrowers from losing their homes in foreclosure than those completed earlier in the housing crisis, according to a report by the State Foreclosure Prevention Working Group. Homeowners who obtained a mortgage modification in 2009 were nearly 50% less likely to fall 60 days behind on their payments compared with those whose mortgages were modified in 2008, according to the report. Google

Exactly opposite of almost everything I have read. Curious.

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