HOPE NOW Assisted 37,000 Struggling Borrowers in May

July 14, 2014
Housing Wire 
mortgage lending news
HOPE NOW reports that about 37,000 homeowners were granted permanent mortgage workouts in May, with roughly 25,000 receiving assistance through proprietary initiatives and just shy of 12,000 benefiting from the federal Home Affordable Modification Program. The total number of loan mods awarded since 2007 now tops 7 million.

Modifications combined with short sales and deeds in lieu outpaced completed foreclosure sales, which fell 4 percent from April to 38,700 in May.

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