Real Estate Note Buyers

Real Estate Note Buyers and Seller Carry Consultants

  • Home
    • About
      • About Our Company
      • Client Testimonials
      • About Dave Franecki
      • Contact Us
  • NOTE | PROPERTY VAULT
  • NOTE INVESTING
    • Why Invest In Performing Notes OR Partials?
    • Buying Non-Peforming Notes
    • Reperforming Real Estate Notes
    • Note Investors Forum
  • Get a Quick Note Quote
  • Seller Carry | Consulting
    • Seller Carry Consulting
    • Real Estate Brokers
    • Property Owners
    • FAQ
    • Videos
    • Contact us for Consultation
  • FREE INFO
    • Free Downloads
    • TIPS – HOW TO SELL MY NOTE
      • How to Sell your mortgage note
      • Learn the value of your mortgage note
      • PROTECT YOUR MORTGAGE WITH
    • BLOG
You are here: Home / hardest hit funds / More Consumers Seek Loan Modifications

More Consumers Seek Loan Modifications

March 25, 2017 By Dave Franecki

In January 2017, an estimated 29,000 homeowners received permanent loan modifications from mortgage servicers during the month according to HOPE NOW, a non-profit alliance of mortgage servicers, investors, counselors, and other mortgage market participants. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). Of the permanent loan modifications performed that month, approximately 20,000 were through proprietary programs while 9,521 were through HAMP. The HAMP program ended officially in December 2016, though servicers will continue to review homeowners who applied before December 31.

Loan modifications increased by 3 percent from December 2016 to January 2017. Total non-foreclosure solutions, such as total loan modifications, short sales, deed in lieu, and workout plans, for January 2017 approximated 102,000, compared to 26,000 foreclosure sales.

Additionally, foreclosure starts and sales saw an increase in those two months. Foreclosure starts jumped from 49,000 in December to 55,000 in January, while foreclosure sales jumped from 20,000 to 26,000 in that same time. HOPE NOW notes that increases in foreclosure starts and sales are typical with their historical data. Although sales and starts are up month-over-month, the year-over-year data saw decreases. Starts are down 4 percent from January 2016, and sales are down 22 percent.

Other non-foreclosure options decreased in January. Short sales dropped from 4,200 in December to 3,700 in January, while the number deed in-lieu stayed at 1,200 in that time. Serious delinquencies are down month-over-month in January, from 1.50 million in December to 1.46 million in January.

“The HOPE NOW Alliance continues to work with homeowners in need and emphasizes on assisting those that are having difficulties with their mortgage,” said HOPE NOW Executive Director Eric Selk.  “Our monthly collection of data indicates that the housing market is improving and setting new norms in the post-crisis environment.”

More Consumers Seek Loan Modifications

Filed Under: hardest hit funds, Note Investing, Protecting Mortgage Note Values, Seller Financing Tagged With: Arizona note buyer, mortgage note payment histories, mortgage note payments, owner financing, private mortgage note, Texas Seller Financing Tips

109 E 17th St #63 Cheyenne, WY 82001 | (888)-387-2956