Foreclosures Exceed Loan Modifications
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DETROIT-A report released on Tuesday shows that homeowners who had recently modified their mortgages are doing better than those who had done so earlier in the housing market crisis.
The State Foreclosure Prevention Working Group that consists of 12 state banking regulators and state attorney generals said that foreclosures continue to exceed loan modifications. The report also revealed that almost 63% of homeowners, who are behind their mortgage payments, are not attending foreclosure prevention programs. For the full story, go to The Detroit Free Press.
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