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Mortgage Modifications vs. Foreclosures
Someone has dropped the ball!
According to the “Center For Responsible Lending,” in a report published August 20, 2009, in the 2nd quarter of 2009 approximately 4,000,000 households are 60 days or more “late on their mortgage payments:” additionally, there are 650,000 homes in “foreclosure.”
In the same report there appears to have been approximately 200,000 “households” which have received “loan modifications during 2nd quarter 2009.” Something is broken and if something is not done soon to correct this matter foreclosures will rain upon our country at an increasing rate.
Stay tuned.
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